1.

X and YAre Partners sharingprofits andlossesin theof 7:3theirCapitalAccountsas at1stApril , 2018stood at X-Rs. 5.00.000 , Y - Rs. 4.00.000partnres are allowedinterestoncapital@5% p.aDrawingof thepartnersduringthe yearended31st MArch , 019 werers. 72,000 ad Rs. 50,000 respectively prfot for theyearbefore allowingintereston capitalandsalary to Y @ Rs. 5.000 per monthswas Rs. 8.00.000 10%of thene profitisto be setaside asGeneral Reserve. passthe journalenterisforappropricarionprepare profitand lossApproproationAccountforthe yearended 31st March, 2019 andcapitalandCurrentaccounts of thepartners .

Answer» <html><body><p></p><a href="https://interviewquestions.tuteehub.com/tag/solution-25781" style="font-weight:bold;" target="_blank" title="Click to know more about SOLUTION">SOLUTION</a> :<img src="https://d10lpgp6xz60nq.cloudfront.net/physics_images/TSG_ACC_XII_V01_C02_S01_031_S01.png" width="80%"/> <br/><br/> <img src="https://d10lpgp6xz60nq.cloudfront.net/physics_images/TSG_ACC_XII_V01_C02_S01_031_S02.png" width="80%"/><br/> <img src="https://d10lpgp6xz60nq.cloudfront.net/physics_images/TSG_ACC_XII_V01_C02_S01_031_S03.png" width="80%"/> <br/>WorkingNote :<br/> <a href="https://interviewquestions.tuteehub.com/tag/rs-625947" style="font-weight:bold;" target="_blank" title="Click to know more about RS">RS</a>. 8.00.000(<a href="https://interviewquestions.tuteehub.com/tag/profit-1168589" style="font-weight:bold;" target="_blank" title="Click to know more about PROFIT">PROFIT</a> )-Rs. 80.000 (<a href="https://interviewquestions.tuteehub.com/tag/general-471730" style="font-weight:bold;" target="_blank" title="Click to know more about GENERAL">GENERAL</a> Reserve )-Rs. 60.000 (y'ssalary ) -Rs, 25.000(intereston <a href="https://interviewquestions.tuteehub.com/tag/x-746616" style="font-weight:bold;" target="_blank" title="Click to know more about X">X</a>'s capital)-Rs. 20.000(intereston Y'scapital )=6.15.000</body></html>


Discussion

No Comment Found

Related InterviewSolutions