1930;3,01830,C 1,6191W R, S and I are partners in a firm. On 1st April

1.	1930;3,01830,C 1,6191W R, S and I are partners in a firm. On 1st April, 2017, their capital was 3 20,000;10,000 and 5,000. Interest is provided @ 4% on Partners' Capital. H is toreceive 500 p.a. as salary. After deducting interest and salary first * 1,000 ofthe profit is to be distributed in the ratio of 9:7:4, further 3 1,000 in the ratio of9: 6:5 and remaining amount to be distributed equally. On 31st March, 2018,the year's profit was 4,500 before deducting interest and salaries.Prepare Profit & Loss Appropriation Account and Capital Accounts of thepartners for year 2017-18.[Ans : Net Profit 2,600; Bal. of Capital a/c : R 21,900; S * 11,250;H 6,350)
Answer» Calculation of Interest on capital A = 300005% = 1500 B= 200005% = 1000 C= 100005% = 500 Salary to B = 50012=6000 Calculation of C's commission = 30000-3000 = 27000*5/100= 1350 PROFITS to be DISTRIBUTED= 30000-3000-6000-1350 = 19,650 The adjustment entry to be PASSED is as follows:- A's Capital A/c Dr. 3675 To B's capital A/c 2895 To C's capital A/c 780 (Being adjustment entry passed) Table Showing Adjustment To be Made A B C Interest on capital 1500 1000 500 Salary 6000 Commission 1350 Profits to be distributed( 19650) 9825 5895 3930 Total 11325 12895 5780 Less: profits wrongly allocated (15000) (10000) (5000) Adjustments (3675) 2895 780 please fallow me and brilient butten please and star⭐ also please

1930;3,01830,C 1,6191W R, S and I are partners in a firm. On 1st April, 2017, their capital was 3 20,000;10,000 and 5,000. Interest is provided @ 4% on Partners' Capital. H is toreceive 500 p.a. as salary. After deducting interest and salary first * 1,000 ofthe profit is to be distributed in the ratio of 9:7:4, further 3 1,000 in the ratio of9: 6:5 and remaining amount to be distributed equally. On 31st March, 2018,the year's profit was 4,500 before deducting interest and salaries.Prepare Profit & Loss Appropriation Account and Capital Accounts of thepartners for year 2017-18.[Ans : Net Profit 2,600; Bal. of Capital a/c : R 21,900; S * 11,250;H 6,350)

Answer»

Calculation of Interest on capital

A = 30000*5% = 1500

B= 20000*5% = 1000

C= 10000*5% = 500

Salary to B = 500*12=6000

Calculation of C's commission = 30000-3000 = 27000*5/100= 1350

PROFITS to be DISTRIBUTED= 30000-3000-6000-1350 = 19,650

The adjustment entry to be PASSED is as follows:-

A's Capital A/c Dr. 3675

To B's capital A/c 2895

To C's capital A/c 780

(Being adjustment entry passed)

Table Showing Adjustment To be Made

A B C

Interest on capital 1500 1000 500

Salary 6000

Commission 1350

Profits to be distributed( 19650) 9825 5895 3930

Total 11325 12895 5780

Less: profits wrongly allocated (15000) (10000) (5000)

Adjustments (3675) 2895 780

please fallow me

and

brilient butten please

and star⭐ also

please