Question

SAHIL'S SALARY WAS 50,000RS HE GOT AN INCREMENT AND ROW HIS SALARY IS 75000 WHAT WAS THE PERCENTAGE INCREASE IN HIS SALARY

Answer 1

Calculation of Interest on capital

A = 30000*5% = 1500

B= 20000*5% = 1000

C= 10000*5% = 500

Salary to B = 500*12=6000

Calculation of C's commission = 30000-3000 = 27000*5/100= 1350

Profits to be distributed= 30000-3000-6000-1350 = 19,650    

The adjustment entry to be passed is as follows:-

      A's Capital A/c   Dr.  3675

           To B's capital A/c           2895

           To C's capital A/c             780

(Being adjustment entry passed)

 

                Table Showing Adjustment To be Made

                                                                                                                               A                          B                                 C        

Interest on capital   1500  1000 500

Salary    6000  

Commission      1350

Profits to be distributed( 19650)  9825  5895  3930

Total  11325  12895  5780

Less: profits wrongly allocated  (15000)  (10000)  (5000)

Adjustments  (3675)  2895  780