Question

3.From the following information, prepare capital accounts of partners Mannan and Sevagan, when their capitals are fluctuating. Particulars Mannan Sevagan ` Capital on 1st J anuary 2018 ( Cr. balance) 2,00,000 1,75,000 D raw ings during 2018 40,000 35,000 Interest on draw ings 1,000 500 Share of profit for 2018 21,000 16,500 Interest on capital 12,000 10,500 Salary 18,000 N il Commission N il 2,5 00

Answer 1

Answer:

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Answer 2

Answer:

From the following information, prepare capital accounts of Partners

Mannan and Sevagan when their capitals are fluctuating.

Particulars Mannan Sevagan

Rs. Rs.

Capital on 1st Jan 2018 (Cr) 2,00,000 1,75,000

Drawings during 2018 40,000 35,000

Interest on drawings 1,000 500

Share of Profit for 2018 21,000 16,500

Interest on capital 12,000 10,500

Salary 18,000 Nil

Commission Nil 2,500