Question

Bikram and Rajib entered into partnership on 1 April 2019 they introduced capital of 100000 and 60000​

Answer 1

Answer:

.....

Explanation:

.....

....................

......

Answer 2

Explanation:

Profit and loss Appropriation A/c Dr. 4,25,000

To A's capital A/c 2,12,500

To B's capital A/c 2,12,500

(Being profit distributed equally)

PARTNERS CAPITAL ACCOUNTS

Particulars A B Particulars A B

To bal c/d 7,12,500 5,12,500 By bank a/c 5,00,000 3,00,000

By profit and loss App A/c 2,12,500 2,12,500

Total 7,12,500 5,12,500 Total 7,12,500 5,12,500

A's Loan Account

Particulars Amount Particulars Amount

To bal c/d 2,05,000 By bank A/c 2,00,000

By interest on A's loan 5000

Total 2,05,000 Total 2,05,000

Calculation of Interest on Loan

Interest on A's loan = 2,00,000*6%*5/12=5000

Interest on A's Loan A/c Dr. 5000

To A's loan A/c 5000

(Being interest on loan paid)

Profit and loss A/c Dr. 5000

To Interest on A's loan A/c 5000

(Being interest transferred to p&l A/c)