Question

Illustration 1. Sameer and Yasmin are partners with capitals of 15,00,000 and 10,00,000 respectively. They agree to share profits in the ratio of 3:2. Show how the following transactions will be recorded in the capital accounts of the partners in case: (i) The capitals are fixed, and (ii) The capitals are fluctuating. The books are closed on 31st December, every year. Particulars (1)Sameer (2) yasmi (3) 3,00,000 2,00,000 5% 5% 30,000 ,30,000Additional capital contributed on 1st July, 2014 Interest on capital Drawings (during 2014 and 2015) Interest on drawings Salary Commission Share in loss for the year (2014 2005) 1,200 30,000 1,800 20,000 10,000 7,000 160,000 40,000​

Answer 1

Answer:

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Explanation:

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