Question

b) Received Interest on Drawing 4,000 = 00 Answer c) Adjust Interest on Drawing by Capital 5,000 = 00 Answer d) Paid Interest on Capital 10,000 = 00 Answer e) Adjust Interest on Capital with Capital A / c 5,000​

Answer 1

Answer:

PROFIT AND LOSS APPROPRIATION ACCOUNT

Particulars Amount Particulars Amount

To Interest on capital

A= 50000*5%=2500

B=30000*5%=1500

C=20000*5%=1000 5000 By net profit 45000

To salary to

B= 5000

C=5000 10000

To profit T/f to

P's current A/c 15000

Q's current A/c 9000

R's current A/c 6000 30000

Total 45000 Total 45000

PARTNERS CAPITAL ACCOUNT

Particulars A B C Particulars A B C

To balance c/d 50000 30000 20000 By balance b/d 50000 30000 20000

Total 50000 30000 20000 Total 50000 30000 20000

PARTNERS CURRENT ACCOUNT

Particulars A B C Particulars A B C

To drawings

10000 7500 6000 By bal b/d 4500 1500 1000

By Interest on capital 2500 1500 1000

By bal c/d 12000 9500 7000 By Salaries 5000 5000

P/L Appropriation A/c 15000 9000 6000

Total 22000 17000 13000