Question

11 A and B are partners having capital of 3,00,000 and 2,00,000 respectively. Current Account
balances on April 1, 2016. A 20,000 (Cr); B 10,000(Cr.)
The deed provides that:
a) A withdrew 5,000 per quarter at the end of each quarter and B withdrew *2,500 per month on
the first day of every month.
(b) Interest on capital is to be allowed @5% p.a.
c) Interest on drawing is to be charged @ 6%.
Id) B is entitled to salary of 25,000
le) A is entitled to commission @ 10% on net profits after charging B's salary, interest on capitals and
his own commission
I of the first 50,000 divisible as profits in any year. A is entitled to 70% and 8 30% Annual profits
in excess of * 50,000 are divisible equally
The profits for year ended 31" March 2017 was * 2.70,000. Prepare profit and Loss Appropriation
Account and partner Current and Capital A/c for the year ended 31" March 2017​

Answer 1

Answer:

Current Account balances on April 1, 2016. A 20,000 (Cr); B 10,000(Cr.) The deed provides that: a) A withdrew 5,000 per quarter at the end of each quarter ...

Calculation of interest on capital

Interest on capital is to be calculated on the capitals at the beginning for the relevant period. ...

Tutorial note: If capital at the beginning is not given, then it can be calculated as below:

Mannan and Ramesh share profits and losses in the ratio of 3:1. ...

Interest on capital = Amount of capital x Rate of interest.

Answer 2

Answer:

tushar dhokebaaz hai uspe trust mat karna... meri frnd ko bhi dhoka de chuka hai vo