Misha and Prisha were partners in a firm sharing profits and losses in the ratio of 3:2. 

On 1st April, 2022, their capital accounts showed balances of Rs. 50,000 and Rs. 30,000 respectively. During the year, Misha withdrew Rs. 12,900 while Prisha withdrew Rs. 9,600. They were allowed interest on capital @ 10% p.a. Interest on drawings of Rs. 660 was charged on Misha’s drawings and Rs. 540 on Prisha’s drawings. Prisha had advanced a loan of Rs. 20,000 to the firm on 1st August, 2022. The net profit for the year ended 31st March, 2023 amounted to Rs. 22,600. 

Prepare Profit and Loss Appropriation Account for the year ended 31st March, 2023. 

Marks-3, CBSE: 2023-24/Zone-3/Set-1/Q-20*