X and y are partners sharing profits and losses in the ratio of 2:3 with capitals of rs. 200000 and rs. 100000 .pass the necessary Journal entries or entries of profit /loss distribution for the year ended 31st march 2019 each of the alternative cases :
CASE 1 : if partnership deed is silent as to the I.O.C and profit for the year anded is rs. 20000.
CASE 2 If partnership Deed provided I.OC @6% p.a and loss for the year is rs. 15000.
CASE3 If PArtnership Deed provides I.O.C @6% p.a and The profit for the year is rs. 21000
CASE4 IF P.D provides for I.OC @6%p.a as a charge on profit for the year is rs 20000.
Case5 If Partnership deed provides for I.OC @6% p.a as charge on profit and the profit gor the year is Rs. 2000.
Case 6 : If Partnership deed provides for I.OC. @6% p.a as a charge on profit and the profit for the year is rs. 18000
PLEASE SOLVE THIS QUESTION AND TELL ME THE ANSWER
Answers
I have attached above the solution
hope it helps
pls mark as brainliest answer and
follow me on brainly
Explanation:
Case I
Profit &loss a/c dr.20000
To x's capital 8000
To y's capital 12000
Case II
Profit &loss a/c dr. 15000
To x's 6000
To y's 9000
Case III
Profit &loss a/c dr. 210000
To x's 12000
To y's 9000
Case IV
Profit &loss a/c dr. 2000
To x's 800
To y's 1200
Case V
Profit &loss a/c dr.18000
To x's 12000
To y's 6000