Advertisements
Advertisements
प्रश्न
From the following balance sheets of Subha and Sudha who share profits and losses in 2 : 3, calculate interest on capital at 5% p.a. for the year ending 31st December, 2018.
Balance sheet as on 31st December, 2018
| Liabilities | ₹ | ₹ | Assets | ₹ |
| Capital accounts: | Fixed assets | 70,000 | ||
| Subha | 40,000 | Current assets | 50,000 | |
| Sudha | 60,000 | 1,00,000 | ||
| Current liabilities | 20,000 | |||
| 1,20,000 | 1,20,000 |
Drawings of Subha and Sudha during the year were ₹ 8,000 and ₹ 10,000 respectively. Profit earned during the year was ₹ 30,000.
उत्तर
| Particulars | Subha | Sudha |
| Capital | 40,000 | 60,000 |
| (+) Drawings | 8,000 | 10,000 |
| 48,000 | 70,000 | |
| (−) Profit | 12,000 | 18,000 |
| 36,000 | 52,000 |
Subha:
`36,000 xx 5/100` = 1,800
Sudha:
`52,000 xx 5/100` = 2,600
Interest on Capital:
- Subha's Capital = 1,800
- Sudha's Capital = 2,600
APPEARS IN
संबंधित प्रश्न
Which of the following is the incorrect pair?
Pick the odd one out
Mannan and Ramesh share profits and losses in the ratio of 3 : 2 and their capital on 1st April, 2018 was Mannan ₹ 1,50,000 and Ramesh ₹ 1,00,000 respectively and their current accounts show a credit balance of ₹ 25,000 and ₹ 20,000 respectively. Calculate interest on capital at 6% p.a. for the year ending 31st March, 2019 and show the journal entries.
From the following balance sheets of Rajan and Devan who share profits and losses 2 : 1, calculate interest on capital at 6% p.a. for the year ending 31st December, 2018.
Balance sheet as on 31st December, 2018
| Liabilities | ₹ | ₹ | Assets | ₹ |
| Capital accounts: | Sundry assets | 2,20,000 | ||
| Rajan | 1,00,000 | |||
| Devan | 80,000 | 1,80,000 | ||
| Profit and loss appropriation A/c | 40,000 | |||
| 2,20,000 | 2,20,000 |
On 1st April, 2018, Rajan introduced an additional capital of ₹ 40,000 and on 1st September, 2018, Devan introduced ₹ 30,000. Drawings of Rajan and Devan during the year were ₹ 20,000 and ₹ 10,000 respectively. Profit earned during the year was ₹ 70,000.
Mathew is a partner who withdrew ₹ 20,000 during the year 2018. Interest on drawings is charged at 10% per annum. Calculate interest on drawings on 31st December 2018.
Santhosh is a partner in a partnership firm. As per the partnership deed, interest on drawings is charged at 6% per annum. During the year ended 31st December, 2018 he withdrew as follows:
| Date | ₹ |
| February 1 | 2,000 |
| May 1 | 10,000 |
| July 1 | 4,000 |
| October 1 | 6,000 |
Calculate the amount of interest on drawings by using the product method.
Mani is a partner, who withdrew ₹ 30,000 on 1st September 2018. Interest on drawings is charged at 6% per annum. Calculate interest on drawings on 31st December 2018 and show the journal entries by assuming that fluctuating capital method is followed.
Mani is a partner who withdrew ₹ 30,000 on 1st September, 2018. Interest on drawings is charged at 6% per annum. Calculate interest on drawings on 31st December, 2018 and show the journal entries by assuming that the fluctuating capital method is followed.
Mani is a partner, who withdrew ₹ 30,000 on 1st September, 2018. Interest on drawings is charged at 6% per annum. Calculate interest on drawings on 31st December, 2018 and show the journal entries by assuming that fluctuating capital method is followed.
Mani is a partner, who withdrew ₹ 30,000 on 1st September, 2018. Interest on drawings is charged at 6% per annum. Calculate interest on drawings on 31st December, 2018 and show the journal entries by assuming that fluctuating capital method is followed.
