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प्रश्न
Richa and Anmol are partners sharing profits in the ratio of 3 : 2 with capitals of ₹ 2,50,000 and ₹ 1,50,000 respectively. Interest on capital is agreed @6% p.a. Anmol is to be allowed an annual salary of ₹ 12,500. During the year ended 31st March 2023, the profits of the year prior to calculation of interest on capital but after charging Anmol’s salary amounted to ₹ 62,000. A provision of 5% of this profit is to be made in respect of manager’s commission.
Following is their Profit & Loss Appropriation Account:
| Particulars | (₹) | Particulars | (₹) |
| To Interest on Capital | By Profit & loss account (After manager’s commission) | __(2)__ | |
| Richa | ______ | ||
| Anmol | ______ | ||
| To Anmol’s Salary a/c | 12,500 | ||
| To Profit transferred to: | |||
| Richa’s Capital A/C (1) | __(1)__ | ||
| Anmol’s Capital A/c | ______ | ||
| ______ | ______ |
The amount to be reflected in blank (2) will be:
विकल्प
₹ 62,000
₹ 74,500
₹ 71,400
₹ 70,775
उत्तर
₹ 71,400
Explanation:
| Dr. | Profit and Loss Appropriation Account | Cr. | ||
| Particulars | Amt. (₹) | Amt. (₹) | Particulars | Amt. (₹) |
| To Interest on Capital | 24,000 | By Profit & loss account (After manager’s commission) | 71,400 | |
| Richa | 15,000 | |||
| Anmol | 9,000 | |||
| To Anmol’s Salary a/c | 12,500 | |||
| To Profit transferred to: | 34,900 | |||
| Richa’s Capital A/C | 20,940 | |||
| Anmol’s Capital A/c | 13,960 | |||
| 71,400 | 71,400 | |||
संबंधित प्रश्न
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P and Q were partners in a firm sharing profits and losses equally. Their fixed capitals were Rs 1,00,000 and Rs 50,000 respectively. The partnership deed provided for interest on capital @ 10% per annum. For the year ended 31st March 2016, the profits of the firm were distributed without providing interest on capital
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Choose the correct sequence of the following transactions in context of Division of Profits.
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The average number of months for which interest on drawings will be calculated will be:
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Amit, Sumit and Kiara are partners sharing profits and Losses in the ratio 2: 2: 1. Sumit is entitled to a commission of 15% on the net profit after charging such commission. The net profit before charging commission is ₹ 9,20,000. The amount of commission payable to Sumit will be ______.
Sonali, Sohan and Shivain were partners in a pen manufacturing firm. They were sharing profits and losses in the ratio of 2: 2: 1. On 31st March, 2022 their Balance Sheet was as follows:
Balance Sheet of Sonali, Sohan and Shivain as on 31st March, 2022.
| Liabilities | Amount (₹) | Amount (₹) | Assets | Amount (₹) |
| Capitals Accounts: | Land and Building | 6,00,000 | ||
| Sonali | 4,00,000 | 12,00,000 | Plant and Machinery | 5,00,000 |
| Sohan | 4,00,000 | Debtors | 1,60,000 | |
| Shivani | 4,00,000 | Stock | 1,40,000 | |
| General Reserve | 1,00,000 | Cash in hand | 1,20,000 | |
| Creditors | 3,60,000 | Cash at Bank | 1,80,000 | |
| Bills Payable | 40,000 | |||
| 17,00,000 | 17,00,000 |
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- interest on capital @12% p.a.
- His share of goodwill which was ₹ 48,000.
-
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| Balance Sheet. of P, Q and R as on 31st March 2022 | ||||
| Liabilities | Amount (₹) | Amount (₹) | Assets | Amount (₹) |
| Capitals: | Plant and Machinery | 1,25,000 | ||
| P | 50,000 | 2,75,000 | Land and Building | 1,50,000 |
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| R | 1,00,000 | Stock | 35,000 | |
| General Reserve | 1,25,000 | Cash at Bank | 75,000 | |
| Sundry Creditors | 25,000 | |||
| 4,25,000 | 4,25,000 | |||
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- ₹ 12,000 for his share of Goodwill.
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Following is their Profit & Loss Appropriation Account:
| Particulars | (₹) | Particulars | (₹) |
| To Interest on Capital | By Profit & loss account (After manager’s commission) | __(2)__ | |
| Richa | ______ | ||
| Anmol | ______ | ||
| To Anmol’s Salary a/c | 12,500 | ||
| To Profit transferred to: Richa’s Capital A/C (1) | __(1)__ | ||
| Anmol’s Capital A/c | ______ | ||
| ______ | ______ |
The amount to be reflected in blank (1) will be:
| Nitya, Shreya and Ishita are partners in a firm. They share profits in the ratio of 5 : 3 : 2. Their fixed capitals are ₹ 80,000; ₹ 60,000 and ₹ 2,00,000 respectively. For the year ending 31st March, 2022, Nitya withdrew ₹ 7,500 at the end of every quarter. |
The partnership deed provide that interest on capital will be allowed @10% p.a. The amount of interest on Ishita's capital will be:
| Nitya, Shreya and Ishita are partners in a firm. They share profits in the ratio of 5 : 3 : 2. Their fixed capitals are ₹ 1,80,000; ₹ 1,60,000 and ₹ 2,00,000 respectively. For the year ending 31st March 2022, Nitya withdrew ₹ 7,500 at the end of every quarter. |
The average number of months for which interest on drawings will be calculated, will be:
