एक्स वाय जेड एंटर्ड इनटू पार्टनरशिप ऑन 1 जनवरी 2020 2 शेयर प्रॉफिट्स एंड लॉसेस इन द रेश्यो ऑफ फाइव रेश्यो 3 रेश्यो 21 पर्सनली ग्रांटेड शेयर ऑफ प्रॉफिट आफ्टर चार्जिंग इंटरेस्ट एंड कैपिटल एंड स्माल सेंटेंस ऑन द कैपिटल ऑफ द प्रॉफिट एंड लॉस अकाउंट
Answers
Answer:
1,38,000
Explanation:
Profit of 1,20,000 is to be distributed among partners as such
X= 1,20,000*3/6=60,000
Y=1,20,000*2/6=40,000
Z=1,20,000*1/6= 20,000
As Z's guaranteed profit is 36,000 for one year. So, for 9 months its (36000*9/12) = 27,000. The deficiency of Z is to be contributed by X. So, 7000(27,000-20,000) is paid by X.
PROFIT AND LOSS APPROPRIATION ACCOUNT
Particulars Amount Particulars Amount
To Interest on capital
X-2,00,000*6%*9/12=9000
Y-1,00,000*6%*9/12=4500
Z-1,00,000*6%*9/12=4500 18,000 By Net profit 1,38,000
To profit transferred to
X-53,000 (60000 - 7000)
Y-40,000
Z-27,000 (20000 + 7000) 1,20,000
Total Profit of 1,20,000 is to be distributed among partners as such
X= 1,20,000*3/6=60,000
Y=1,20,000*2/6=40,000
Z=1,20,000*1/6= 20,000
As Z's guaranteed profit is 36,000 for one year. So, for 9 months its (36000*9/12) = 27,000. The deficiency of Z is to be contributed by X. So, 7000(27,000-20,000) is paid by X.
PROFIT AND LOSS APPROPRIATION ACCOUNT
Particulars Amount Particulars Amount
To Interest on capital
X-2,00,000*6%*9/12=9000
Y-1,00,000*6%*9/12=4500
Z-1,00,000*6%*9/12=4500 18,000 By Net profit 1,38,000
To profit transferred to
X-53,000 (60000 - 7000)
Y-40,000
Z-27,000 (20000 + 7000) 1,20,000
Total 1,38,000