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A, B and C are three partners sharing profit in the ratio of there capital. The capital of A is rupees 5,000 and that of B is rupees 2,500. Profit for 2,000 amounted to rupees 3,500 out of which C's share was rupees 1,500. How much is capital? |
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Answer» Answer: PROFIT AND LOSS APPROPRIATION ACCOUNT Particulars Amount Particulars Amount To Interest on capital A= 50000*5%=2500 B=30000*5%=1500 C=20000*5%=1000 5000 By NET profit 45000 To salary to B= 5000 C=5000 10000 To profit T/f to P's current A/c 15000 Q's current A/c 9000 R's current A/c 6000 30000 Total 45000 Total 45000 PARTNERS CAPITAL ACCOUNT Particulars A B C Particulars A B C To balance c/d 50000 30000 20000 By balance b/d 50000 30000 20000 Total 50000 30000 20000 Total 50000 30000 20000 PARTNERS CURRENT ACCOUNT Particulars A B C Particulars A B C To drawings 10000 7500 6000 By bal b/d 4500 1500 1000 By Interest on capital 2500 1500 1000 By bal c/d 12000 9500 7000 By Salaries 5000 5000 P/L Appropriation A/c 15000 9000 6000 Total 22000 17000 13000 I HOPE it helps you... follow me....give ❤️ heart |
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