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प्रश्न
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.
उत्तर
| Mannan | Ramesh |
| `1,50,000 xx 6/100` = 9000 | `1,00,000 xx 6/100` = 6000 |
| Interest on Capital |
| Mannan's Capital = 9,000 |
| Ramesh's Capital = 6,000 |
| Journal Entries | ||
| Interest on Capital A/c ....Dr. To Mannan's Capital A/c To Ramesh's Capital A/c (Interest on Capitål entered) |
15,000 - - |
- 9,000 6,000 |
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संबंधित प्रश्न
What is the journal entry to be passed for providing interest on capital to a partner?
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.
Ahamad and Basheer contribute ₹ 60,000 and ₹ 40,000 respectively as capital. Their respective share of profit is 2 : 1 and the profit before interest on capital for the year is ₹ 5,000. Compute the amount of interest on capital in each of the following situations:
- if the partnership deed is silent as to the interest on capital
- if interest on capital @ 4% is allowed as per the partnership deed
- if the partnership deed allows interest on capital @ 6% per annum.
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