Question

Ans. Balance ot A's Capital Accou
40. Alisha, Aman and Meenu are three partners. On 1st April, 2015 their respective Capitals
were 80.000, 60,000 and 40,000. On the same date, their current account balance were
Alisha = 4,000 (Cr.). Aman=2,000 (Dr.), Meenu=2,500 (Cr.).
Profits are to be divided equally upto 15,000. Above that amount Alisha gets 50%, Ama
gets 30% and Meenu gets 20%. Drawings of Alisha, Aman and Meenu for year ending 3
March, 2016 were * 4,000,1,000, 1,500 respectively. The profit for year ended 3
March, 2016 amounted to ? 33,200 before charging interest on capital which is allowed
4% per annum
You have to prepare Profit and Loss Appropriation Account, Partners Capital Accounts and
Partners Current Accounts.​

Answer 1

Explanation:

Ans. Balance ot A's Capital Accou

40. Alisha, Aman and Meenu are three partners. On 1st April, 2015 their respective Capitals

were 80.000, 60,000 and 40,000. On the same date, their current account balance were

Alisha = 4,000 (Cr.). Aman=2,000 (Dr.), Meenu=2,500 (Cr.).

Profits are to be divided equally upto 15,000. Above that amount Alisha gets 50%, Ama

gets 30% and Meenu gets 20%. Drawings of Alisha, Aman and Meenu for year ending 3

March, 2016 were * 4,000,1,000, 1,500 respectively. The profit for year ended 3

March, 2016 amounted to ? 33,200 before charging interest on capital which is allowed

4% per annum

You have to prepare Profit and Loss Appropriation Account, Partners Capital Accounts and

Partners Current Accounts.