Question

Roshan has a current account with partnership firm. It has debit balance of ` 75,000 as on 01-07-2016.


He has further deposited the following amounts:


Date Amount (`)

14-07-2016 1,38,000

18-08-2016 22,000


He withdrew the following amounts :

Date Amount (`)

29-07-2016 97,000

09-09-2016 11,000


Show Roshan’s A/c in the ledger of the firm. Interest is to be calculated at 10% on debit balance and 8% on

credit balance.

You are required to prepare current account as on 30th September, 2016 by means of product
of balances method

Please Give full Solution​

Answer 1

Answer:

BAL C/D 23445

THE PERIOD FOR LAST AMT. WILL BE 22 DAYS ONLY.

Answer 2

Answer:

balance c/d = 23,456

int = 456