A and B are partners sharing profits and losses in the ratio of 3 : 1. On 1st April, 2018, their capitals were: A   50,000 and B   30,000. During the year ended 31st March, 2019 they earned   a net profit of 50,000. The terms of partnership are:

a Interest on capital is to allowed @ 6% p.a. b A will get a commission @ 2% on turnover. c B will get a salary of 500 per month.

d B will get commission of 5% on profits after deduction of all expenses including such commission. Partners' drawings for the year were: A 8,000 and B 6,000. Turnover for the year was 3,00,000.

After considering the above facts, you are required to prepare Profit and Loss Appropriation Account and Partners' Capital Accounts