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d 1 : 2 : 3, the greatest weight being given to LAST year. Net profit before PARTNERS remuneration were: 2015-16: ₹ 2,00,000; 2016-17: ₹ 2,30,000; 2017 -2018: ₹ 2,50,000. The remuneration of the partners is estimated to be ₹ 90,000 p.a. Calculate amount of goodwill.HOPE THIS HELPS ❤️FOLLOW MEMARK AS BRAINLIEST ❤️

tion:Working NOTES:Goodwill = Total of NORMAL Profit =

tion:Working NOTES:GOODWILL = NORMAL AVERAGE PROFIT = ∴Normal Average Profit  = = 60,000

tion:WORKING NOTES:GOODWILL = AVERAGE PROFIT =

n:Goodwill = Super PROFIT x Number of Years PURCHASE Normal Profit = EXPECTED Capital Employed x                      = 2,00,000 x                      = 20,000 Actual Expected Profit = 36,000-6,000= $30,000  Super Profit = Actual Expected Profit - Normal Expected Profit                    = 30,000- 20,000                    = $10,000 Number of years purchase = 2 Super Profit = $10,000 Goodwill = Super Profit x Number of Years Purchase Goodwill               = 10000 x 2 = $20,000

TE YOUR ANSWER ISmade in respect of the plant incurring ₹ 30,000 which was charged to revenue. The said SUM is agreed to be capitalised for goodwill calculation subject to adjustment of depreciation of 10% p.a. on reducing BALANCE method.(ii) The closing STOCK for the year 2015-16 was overvalued by ₹ 12,000.(iii) To cover management cost, an annual charge of ₹ 24,000 should be MADE for the purpose of goodwill valuation.(ivHOPE THIS HELPS ❤️PLEASE MARK AS BRAINLIEST ❤️❤️

TE GOOD QUESTIONtimes the AVERAGE annual PROFIT of the previous four or five years whichever is higher. The AGREED PROFITS for goodwillHOPE THIS HELPS ❤️PLEASE MARK AS BRAINLIEST ❤️❤️❤️FOLLOW ME

is will be HELPFUL for U

how big this QUESTIONS is PLZ tell me in short WORDS

n:                                                Journal  Date                      Particulars                              DEBIT RS.       Credit Rs. 2015 - 16             P's Capital A/c            Dr.          3,600                           Q's Capital A/c             Dr.         2,400                        To R's Capital A/c                                              6,000                  (Being deficiency adjust) 2017 - 18            P's Capital A/c              Dr.          32,400                          Q's Capital A/c              Dr.          21.600              To Rs Capital A/c                                                         51,000            (Being deficiency adjust)  Working NOTES: Calculation of amount of deficiency of R's Minimum Guaranteed R's Profit = Rs.30,000 2015-16, R's Share Profit (actual) = 1, 20,000 x .= 24, 000 Deficiency in R's Profit = 30,000 - 24,000 = 6,000 Deficiency to borne by P and Q in the ratio =12:8  2016 — 17 R's actual share profit = 1, 80, 000 x = 36, 000  No deficiency in R's profit as his actual share exceeds his minimum guaranteed share. 2017 - 18, R's share of loss = 1, 20, 000 x = 24, 000  Deficiency in R's Profit = 30,000 + 24,000 = 54,000 Deficiency to borne by P and Q in the ratio =12:8

fit transferred to Asgar Capital A/C = Rs. 70000, Chaman Capital Account =Rs. 40000, and Dholu Capital Account =Rs. 70000Explanation:In the given PROBLEM, Profit AVAILABLE for distribution= Rs. 424000 -( Rs. 120000+84000+40000)                                                   = Rs. 180000Profit sharing ratio = 4:2:3Asgar's Share of Profit =180000 x 4/9 = Rs. 80000Chaman's Share of Profit = 180000 x 2/9 = Rs. 40000Dholu's Share of Profit = 180000 x 2/9 = Rs. 60000Dholu's minimum guaranteed profit = Rs. 110000 (EXCLUDING interest on capital but including salary)Dholu's minimum guaranteed profit( excluding salary) = Rs. 110000- Rs. 40000 = Rs. 70000Dholu's actual share of profit = Rs. 60000Deficiency in Dholu's share = Rs. 70000-Rs. 60000= Rs. 10000This deficiency to be BORNE only by AsgarTherefore, Asgar's New Profit Share= Rs. 80000-Rs. 10000                                                             = Rs. 10000________   424000   ________

n:                               Profit and Loss Appropriation Account                                   for the year ended March 31,2013  DR                                                                                                                     Cr  Particulars                                   Rs.        Particulars                                  Rs. To Profit transferred to :                          By Profit and Loss A/c            90,000 Pranshus's Capital A/c   30,000                      (Net Profit) Himanshu's Capital A/c 30,000Amin,' s Capital A/c       30,000    90,000                                                           90,000                                             90,000  Working Notes: 1: Calculation of NEW Profit Sharing Ratio Old ratio = 3:2 Let the TOTAL share of the firm be Re 1 Anshu is admitted for th share in profits Pranshu's New Share = x = Himanshu's New Share= x = Anshu's Share = or New Profit Sharing Ratio = 15 : 10 : 5 or 3:2:1  2: Distribution of Profit  Ansh's Share of Profit = 90,000 x  = 15,000 Deficiency of '15,000 in Anshu's share of profit will be borne by Pranshu Pranshu's Share of Profit = 90,000 x = 45,000 Pranshu's actual share of profit (after bearing deficiency)                                                = 30,000 (45,000 - 15,000)Himanshu's Share of Profit = 90,000 x = 30,000

which STANDARD is this QUESTION from please LET knowExplanation:which board is this question from please let KNOW

n:                                                        Journal  Particulars                                                    L.F.      Debit Rs.    Credit Rs. Z's Loan A/c                                           Dr.             2,00.000     To Z's Capital A/c                                                                  2.00,000 (Being Z's Loan transferred to his Capital Account) ,X's Capital A/c                                        Dr.              3,600 Y's Capital, A/c                                       Dr.              2,400 To Z's Capital A/c                                                                           6,000 (Being Z's EXCESS credit balance paid to him by X and Y in the ratio of 3 : 2)  Working Notes :  1.Profit before Es Salary and Interest on Loan  Profit before Z's Salary and Interest on LoanYear          Profit/Loss  +  Salary  +  Interest on  Profit before Interes                                                            z's loan          Interest on                                                                               Z's Capital (for 4 years)  2012 - 2013    5,90,000 + 90,000 +  18,000 =        6.98,000 2013 - 2014     6,26,000 + 90,000 + 18,000 =         7,34,000 2014 - 2015      (40,000) + 90,000  + 18,000 =          68,000 2015 - 2016     7,80,000 +  90,000 + 18,000          = 8,88,000 Profit before Interest on Z's Capital (for 4 years)  2. Calculation of Interest on Capital  Interest on Z's Capital = 2,00,000 x  =12,000 p.a.  Interest on Z's Capital for 4 years =12,003 x 4= 48,000 3. Calculation of Z's Share of Profit as a Partner Profit after Interest on Z's Capital = Profit before Interest on Es Capital - Interest on Es Capital = Rs.23,88,000 -Rs.48,000 = Rs.23,40,000 Z's Profit Share as a Partner for 4 years 1=23,40,000 x  =3,90,000 ∴ Zs Share of Interest on Capital and Profit Share as a Partner = Rs.48,000 + Rs.3,90,000 = Rs.4,38,000 Zs Salary and Interest on Loan as MANAGER = Rs.72,000 + Rs.3,60,000                                                                                           = Rs.4,32,000                                          Adjusting Table  Z's Share as a Partner                                                               4,38,000  LESS : Es Share as a Manager                                                  (4,32,000)  Z will get from X and Y in their profit sharing ratio                   6,000  Profit to be transferred by X and Yin Favour of Z X =6,000 x =3,600 Y=6,000 x = 2400

which BOARD is this QUESTION from EXPLANATION:which STANDARD is this question from

n:                           Profit and Loss Appropriation Account                               for the year and March 31,2018  Dr                                                                                                                    Cr  Particulars                       Rs.                         Particulars                         Rs. To Profit transferred to :                         By Profit and Loss A/c   2,25,000A's Capital A/c 96,750 \B's Capital A/c 72,000 C's Capital A/c 56.250   2,25,000                                             2,25,000                                                 225,000 Working Notes :1. Calculation of REMUNERATION to C as a Manager Salary to C = Rs.27,000 COMMISSION to C =10% of NET Profit after Salary and Commission Net Profit after Salary and Commission = Rs.2,25,000 - Rs.27,000                                                                  = Rs.1,98,000  Commission to C =1,98,000 x = 18,000   C's remuneration as Manager = Salary + Commission                                                   = Rs.27,000 + Rs.18,000 = Rs.45,000  2. Calculation of Profit Share of C as a Partner  Profit = Rs.2,25,000  C's Profit Share =2,25, 000 x = 56, 250 Part of C's Profit Share to be BORNE by A = Rs.56,250 - Rs.45,000                                                                     =Rs. 11,250 Profit available for distribution between A and B = Rs.2.25,000 - Rs.45,000                                                                                                            = Rs.1,80,000 A's Share of Profit =1,80,000 x =1,08,000 B's Share of Profit =1,80,000 x =72,000 A's Profit Share after adjusting C's deficiency = Rs.1,08,000 - Rs.11,250                                                                             = Rs.96,750

n:                            Profit and Loss APPROPRIATION Account  Dr                                                                                                                      Cr  Particulars                           Rs.         Particulars                                         Rs.To Profit transferred to :            By Profit and Loss A/c                      75,000         A's Capital A/c         41,400        By B's Capital A/c                    9,000         B's Capital A/c         27,600    (Deficiency in Revenue)             9,000         Cs Capital A/c          15.000    84,000                                                             84,000                                         84,000  Working Notes : Deficiency in revenue guaranteed by B = 25,000 - 16,000 = 9,000 Profit to be DISTRIBUTED AMONG Partners = 75,000 + B's deficiency = Rs.75,000 + Rs.9,000 = Rs.84,000 Profit Sharing ratio = 3 : 2 : 1  A's Profit Share =84,000 x  =42,000 B's Profit Share =84,000 x =28,000 Cs Profit Share = 84,000 x   = 14,000 C is guaranteed of minimum profit of Rs.15,000 Deficiency in Cs Profit Share = Rs.15,000 - Rs.14,000 = Rs.1,000 Deficiency borne by A =1,000 x =600 Deficiency borne by B=1,000 x =400  Therefore, Final Profit Share of A = Rs.42,000 -Rs. 600 = Rs.41,400 Final Profit Share of B = Rs.28,000 - Rs.400 =Rs. 27,600" Final Profit Share of C = Rs.14,000 +Rs. 1,000 = Rs.15,000 The answer is different from one provided in the book as the deficiency of Rs.9,000 that was guaranteed by B to the firm WOULD not be deducted from his share as he is bearing it in FORM of profit.

n:                           Profit and Loss APPROPRIATION Account                                 for the year ended 31" March 18  Dr                                                                                                                      CrParticulars                                    Rs.            Particulars                             Rs. To Profit transferred to :                     By Profit and Loss A/c           9,00,000 Vikas's Capital A/c  4,57,500 Vivek's Capital A/c 2,92,500 Vandana's Capital A/c 1,50,000   9,00,000                                                                                                         900000                                           900000 Working NOTES: Profit Share on Vandana's = 9,00,000 x  =1,12,500 Remaining Profit = Rs.9,00,000 - Rs.1,12.500 = Rs.7,87,500 Profit on Vikas's Share = 7,87,500 x = 4,72,500 Profit on Vivek's Share = 7, 87,500 x =3,15, 000 Minimum GUARANTEED Profit Vandana = Rs.1,50,000 DEFICIENCY = 37,500 (1.50,000 - 1,12,500) Deficiency to borne by Vikas and Vivek in the ratio =2:3  Vikas's - 37, 500 x = 15, 000 Vivek's - 37 500 x  = 22 500 Profit of Vikas after ADJUSTING after deficiency = Rs.4,72,500 - Rs.15,000                                                                             = Rs.4,57,500 Profit on Vivek after adjusting after deficiency = Rs.3,15,000 - Rs.22,500                                                                             = Rs.2,92,500

n:                            Profit and LOSS Appropriation Account                               for the year ended March 31,2018  Dr                                                                                                                   Cr  Particulars                                    Rs.      Particulars                                Rs. To Interest on CAPITAL to :        By Profit and Loss A/c (Net Profit)   9,50,000 ANKUR                     84,000 Bhavna                  36,000 Disha                    24,000     1,44,000 To Salary to Bhavna             50,000 To Commission to Disha(3,000 x 12                                36,000 To Profit transferred to :         Ankur          4,14,000       Bhavna         1,80,000      Disha            1,26,000         7,20,000                                                   9,50,000                                         9,50,000 Working Notes : Profit available for distribution = Rs.9,50,000 - (Rs.1,44,000 + Rs.50,000 + Rs.36,000) = Rs.7,20,000 Profit sharing ratio = 7 : 3 :2  Ankur's Profit Share = 7,20,000 x = 4,20,000  Bhavna's Profit Share = 7,20,000 x   = 1, 80,000 Disha's Profi t Share = 7,20,000 x = 120,000 Bhavna's Minimum Guaranteed Profit = Rs.1,70,000 (excluding interest on capital) But, Bhavna's Actual Profit Share = Rs.1,80,000 No DEFICIENCY Disha's Minimum Guaranteed Profit = Rs.1,50,000 (including interest on capital but excluding salary) Disha's Minimum Guaranteed Profit (excluding interest) = Rs.1,50,000 - Rs.24,000 = Rs.1,26,000 But, Disha's Actual Profit Share = Rs.1,20,000 Deficiency in Disha's Profit Share = Rs.1,26,000 - Rs.1,20,000 = Rs.6,000 This deficiency is to be borne by Ankur alone THEREFORE, Ankur's New Profit Share = Rs.420000 - Rs.6000 = Rs.414000

n:                            Profit and Loss Appropriation Account                                      as on 31" March 2018  Dr                                                                                                                        Cr  Particulars                                       Rs.                 Particulars                       Rs. To Interest on Capital A/c                             By Net Profit b/d             1,60,000 X                            15,000 Y                            10,000 Z                             7,500             32,500 To Profit transferred to : X's A/c (51,000 - 1,750)   49,250 Y's A/c (38,250)              38,250 Z's A/c (38,250 + 1,750)  40,000   1,27,500                                                         1 60 000                                       1 60 000  NOTE: Z is admitted on 1" October,2017 and Profit is ascertained on March 31,2018, therefore interest on Capital is to be calculated for 6 months and GUARANTEED amount is considered as Rs.40,000, i.e. half of the total amount.

n:Case (a)                          PROFIT and Loss Appropriation Account  DR                                                                                                                Cr  Particulars                               Rs.         Particulars                           Rs. To Profit transferred to :                    By Net Profit b/d                 30,000 A's CAPITAL A/c        14,400 B's Capital A/c        9,600 C's Capital A/c        6,000   30,000                                                                                                        30,000                                              30,000  Working Notes :Profit = 30, 000 Profit sharing ratio= 3 : 2 : 1 C is given a guarantee of MINIMUM profit of 6, 000 A's Profit Share = 30, 000 x  =15 000 B's Profit Share = 30, 000 x = 10,000 C's Profit Share =30, 000 x  = 5 000 Deficiency in C's Profit Share = 6, 000 - 5, 000 = 1, 000 This deficiency is to be borne by A and B in their profit sharing ratio i.e. 3 : 2  Deficiency borne by A = 1, 000 x  = 600 Deficiency borne by B = 1, 000 x =400   Therefore, Final Profit Share of A =15, 000 - 600 = 14, 400 Final Profit Share of B = 10, 000 - 400 =9, 600 Final Profit Share of C = 5, 000 + 1, 000 = 6, 000 Case (b)                           Profit and Loss Appropriation Account  Dr                                                                                                                     Cr  Particulars                              Rs.      Particulars                                 Rs. To Profit transferred to :               By Profit and Loss A/c            30,000 A's Capital A/c      14,000 B's Capital A/c      10,000 C's Capital A/c      6,000     30,000                                              30,000                                                30,000  Working Notes : Deficiency in C's Profit Share = Rs.6,000 - Rs.5,000 = Rs.1,000 This deficiency is to be borne by A only Therefore. Final Profit Share of A = Rs.15,000 - Rs.1,000 = Rs.14,000  Final Profit Share of B = Rs.10,000 Final Profit Share of C = Rs.5,000 + Rs.1,000 = Rs.6,000 Case (c)                               Profit and Loss Appropriation Account  Dr                                                                                                                  Cr  Particulars                         Rs.        Particulars                                       Rs. To Profit transferred to :            By Profit and Loss A/c                   30,000 A's Capital A/c     15,000 B's Capital A/c      9,000 Cs Capital A/c      6,000    30,000                                            30,000                                                     30,000  Working Notes: Deficiency in Cs Profit Share = Rs.6,000 - Rs.5,000 = Rs.1,000 This deficiency is to be borne by B only Therefore, Final Profit Share of A = Rs.15,000 Final Profit Share of B = Rs.10,000 - Rs.1,000 =  9,000 Final Profit Share of C = Rs.5,000 + Rs.1,000 = Rs.6,000  Case (d)                              Profit and Loss Appropriation Account  Dr                                                                                                                Cr  Particulars                             Rs.                 Particulars                            Rs. To Profit transferred to :                   By Profit and Loss A/c             30,000 A's Capital A/c        14,250 B's Capital A/c         9,750 C's Capital A/c         6,000   30,000                                                  30,000                                                   30,000Deficiency in Cs Profit Share = 6,000 - 5000 = 1,000 This deficiency is to be bane by A and Bin the ratio of 3:1 Deficiency borne by A =1,000 x =750  Deficiency borne by B =1,000 x =250  Therefore, Final Profit Share of A = 15,000- 750 = 14,250                   Final Profit Share of B =10,000 - 250= 9,750                    Final Profit Share of C =5,000 + 1,000 =6,000

n:                         Profit and Loss Appropriation Account                             for the YEAR ENDED Merck 31,2018  Dr.                                                                                                                    CR.  Particulars                             Rs.                      Particulars                 Rs. To Profit transferred to :                     By Profit and Loss A/c     9,60,000 X's Capital A/c   4,48,000                   (Excluding Z's Salary) Y's Capital A/c   3,20,000     Z's Capital A/c   1,92,000   9,60,000                                                                                       9,60,000                                          9,60,000  Working Notes: 1. Calculation of Remuneration to Z as a Manager Salary to Z = Rs.1,20,000 Commission to Z= 5% of Net Profit after salary and commission Net Profit after salary and commission = Rs.8,40,000 s Commission - 8, 40, 000 x =  40000 Remuneration to Z as a Manager = Salary + Commission                                                        = 1,20,000 + 40,000                                                        = Rs.1,60,000  2. Calculation of Profit Share of Z as a Partner Total Profit = Rs.9,60,000  Profit on Z's Share - 9, 60, 000 x = 192,000 Z's Profit share to be borne by X = Rs.1,92,000 - Rs.1,60,000 = Rs.32,000 Profits available for distribution between X and Y = Rs.9,60,000 - Rs.1,60,000 = Rs.8,00,000 Profit on X's Share = 8, 00,000 x =4, 80,000 Profit on Y's Share = 8,00, 000 x  = 3, 20, 000 X's Share in profits after adjusting Z's deficiency = Rs.4,80,000 - Rs.32,000 = Rs.4,48,000

n:                        Profit and Loss Appropriation Account                                  For the year ended 2017-18  Dr                                                                                                                      Cr  Particulars                            RS.                Particulars                                 Rs. To Profit transferred to :                      By Profit and Loss A/C            40,000 A's Capital A/c      19,500                          (Net Profit) B's Capital A/c      15,500 Cs Capital A/c       5,000                                                                     40,000                                          40,000                                                       40,000  Working Notes : Profit for the year = 40, 000 Profit sharing ratio= 5:4:1 C is given a guarantee of minimum profit of 5, 000 A's Profit Share = 40,000 x = 20, 000 B's Profit Share = 40,000 x = 16 000 Cs Profit Share = 40,000 x = 34,000 DEFICIENCY in C's Share = 5, 000 - 4000 = 1,000 This deficiency is to be BORNE by A and B equally. Deficiency borne by A = 1,000 x = 500 Deficiency borne by B =1,000 x =  500  Therefore, Final Profit Share of A = 20,000 -500 = 19,500 Final Profit Share of B = 16,000 - 500 = 15,500 Final Profit Share of C = 4,000 + 1,000= 5, 000

n:                                          JournalParticulars                                         L.F.   Debit RS.   Credit Rs. Pand:L Adjustment A/c                Dr.          29.200         To A's Capital A/c                                                  16,400         To B's Capital A/c                                                    12,800 (Being Interest on capital omitted, now provided) A's Capital A/c                              Dr.            900 B's Capital A/c                              Dr.             450         To Pand L Adjustment A/c                                        1,350 (Being Interest on drawings omitted, now charged) A's Capital A/c                               Dr.             16,710 B's Capital A/c                                Dr.             11,140 To PandL Adjustment A/c (29,200 - 1,350)                        27,850 (Being Loss on adjustment is distributed between the partner)                                                                       Partner's Current Account  Dr.                                                                                                          Cr. Particulars              A Rs.      B Rs.             Particulars       A Rs.     B Rs. To B's Capital A/c  1,210                   By Balance b/d  4,00,000  3,00,000To Balance c/d    3,98,790   3,01,210 By A's Capital A/c             1,210                              4,00,000   3,01,210                        4,00,000   3,01,210Working Notes :  1. Calculation of Capital as on April 01 2016 (Opening Capital  Particulars                                                   A Rs.      B Rs.      Total Rs. Capital as on March 31,2017 (Closing)  4,00,000  3,00,000  7,00,000           Add : Drawings                            48,000     36,000     84,000           Less : Profit                                 (1,20,000)   (80.000)   (2.00.000) Capital as on April 01,2016 (Opening)   3,28,000   2,56,000   5,84,000  2.Calculation of Interest on Capital  Interest on A's Capital =3,28,000 x = 16,400 Interest on B's Capital =2,56,000 x = 12, 800 3. Calculation of Interest on Drawings Interest on A's Drawings = 48, 000 x x = 900 Interest on B's Drawings = 36, 000 x x =450  In Case only Adjustment Entry is to be passed                                               Journal  Particulars                                                    L.F.   Debit Rs.   Credit Rs. A's Capital A/c                                                         1,210To 13's Capital A/c                                                                       1,210(Being amount of interest on Capital and interest on drawings adjusted) Working Notes :                               STATEMENT Showing Adjustment  Particulars                                               A Rs.    B Rs.     Total Rs. Interest on Capital (to be CREDITED)     16,400   12,800    29,200 Less : Interest on Drawings                  (900)     (450)      (1,350) Right distribution of 27,850                 15,500   12,350    27,850 Less : WRONG Distribution of 27,850(3:2) (16,710)  (11,140)   (27,850) Net Effect                                               (1,210)      1,210           NIL

n:                       Profit and Loss Appropriation Account  Dr                                                                                                                    CrParticulars                   Amount Rs.      Particulars                       Amount Rs. To Profit transferred to :                  By Profit and Loss A/c           54,000 A's A/c         26,400                          (Net Profit) B's A/c          17,600 Cs A/c           10,000       54,000                                                       54,000                                         54,000  Working NOTE :C will get higher of the TWO:  (i) Share of Profit as per profit sharing ratio, i.e.  x 54,000=9,000  (II) MINIMUM guaranteed profit i.e. 10,000 Thus, From net profits of 54,000; Minimum guaranteed profit to C for 10,000 would be adjusted, and then Balance profits of 44,000 (54,000 - 10, 000) will be shared by Rand Bin the ratio 3:2 Accordingly, Final Profit Share of A = x 44 000= 26,400 B= x 44 000=17,600 C = 10,000 (Minimum guaranteed profit)

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n:                             Profit and Loss Appropriation Account                              For the year ended MARCH 31,2018  Dr.                                                                                                                Cr.  Particulars                               Rs.       Particulars                                   Rs. To Profit transferred to :                By Profit and Loss A/c              6,44,000     A's CAPITAL A/c    3,35,200 B's Capital A/c     1,80,000 C's Capital A/c     1,28,800    6,44,000                                             6,44,000                                               6.44,000  Working Notes: 1. Calculation of Remuneration to C as a MANAGER Salary to C Rs.50,000 Commission to C 10% salary and Commission After Net Profit = Rs.6,44,000 - Rs.50,000 = Rs.5,94,000  C's Commission = 5,94 ,000 X = 54 ,000 Remuneration to C as a Manager = Salary + Commission                                                        = 50,000 + 54,000                                                        = Rs.1,04,000  2. Calculation of Profit Share of C as a Partner  Total Profit = Rs.6,44,000  Profit on C's Share = 6, 44, 000 x = 1, 28, 000  Part of C's share to be borne by A = 1,28,000 - 1,04,000= 24,800 Profits available for distribution = 6,44,000 - 1,04,000 =5,40,000 Profit Share of A = 5,40,000 x 2/3 = 3,60,000 Profit Share of B = 5,40,000 x 1/3 = 1,80,000 Final Share of A after adjusting C's Deficiency = 3,60,000 - 24,800                                                                              = 3,35,200.

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rnal and the adjustment entry has been calculated below:EXPLANATION:Calculation of Interest on Capital Interest on A's Capital Interest on B's Capital Interest on C's Capital Interest on drawingsFor A- Rs.350 For B - Rs.250 For C - Rs.150 SALARIES To A - Rs.5,000, and To B - Rs.7, 500Commission to ACOMMISSION to A is Rs. 3,000 Calculation of Profit share of each partner Profit available for distribution A's Profit Share B's Profit Share C's Profit Share Thus, as per the adjustment entry, an AMOUNT of Rs. 2520 and Rs. 2740 has been debited from A and C's capital account respectively and has been credited to B's capital account.

essary adjustment entry are CALCULATED below:Explanation:Given,A, B and C capitals were A ₹ 30,000; B ₹ 20,000 and C ₹ 10,000 respectively.The profits were to be shared in the ratio of 5 : 3 : 2.Calculation of Interest on Capital Interest on A's CapitalInterest on B's Capital Interest on C's Capital Salary to BCalculation of Commission to C Commission to C = 5% on Profit after interest on capital but before salary Profit after Interest on Capital but before Salary Therefore C's Commission Calculation of SHARE of Profit of each PARTNER Profit available for DISTRIBUTION A's Profit Share B's Profit Share C's Profit Share Thus, as per the adjustment calculation, an amount of Rs. 3675 has been debited from A's account and an amount of Rs. 2895 and Rs. 780 has been credited to B and C's account respectively.

rnal entry and the adjusting table are calculated below:Explanation:Given,PIYA and Bina sharing PROFITS and losses in the RATIO of 3 : 2Piya WITHDREW ₹ 8,000 and Bina withdrew ₹ 4,000.The profit for the year ended is RS. 30,000Calculation of Interest on Capital Interest on Piya's Capital: Interest on Bina's Capital: Thus, as per the journal entry given below, an amount of Rs. 5856 has been debited from Bina's Capital account and has been credited to Piya's Capital account.

essary adjustment entry is given below.Explanation:Given,Ram, SHYAM and Mohan sharing profits and losses in the RATIO of 2 : 1 : 2Their capitals were fixed at ₹ 3,00,000, ₹ 1,00,000, ₹ 2,00,000.The interest on capital was credited to them @ 9% instead of 10% p.aCalculation of Interest on Capital 10% p.a. Interest on Ram's Capital Interest on Shyam's Capital Interest on Mohan's Capital Calculation of Interest on Capital 9% p.a. Interest on Ram's Capital Interest on Shyam's Capital Interest on Mohan's Capital As per the adjustment entry given below, an amount of Rs. 200 and Rs. 400 has been obtained from Shyam and Mohan and MUST be credited to Ram's Capital ACCOUNT.

ustment AMOUNT are CALCULATED below:EXPLANATION:Given,Profits  were DISTRIBUTED equally between the partners Pankaj and Anu WITHOUT allowing interest on capital. Interest due on capital was Pankaj ₹ 3,000 and Anu ₹ 1,000.Total interest will be (Rs. 3000 + Rs. 1000) i.e., Rs. 4000Profit which is wrongly distributed between them will be Rs. 2000 eachAdjustment amount will be calculated as below:Pankaj = Rs. 3000 - Rs. 2000 = Rs. 1000 (this need to be added to his account)Anu = Rs. 1000 - Rs. 2000 = - Rs. 1000 ( this need to be deducted from his account)Thus, an amount of Rs. 1000 has to be credited to Pankaj's Capital account from Anu's account.

n:                                                      Journal  PARTICULARS                                                      L.F.     Debit Rs.    Credit Rs. A's CAPITAL A/c                                    Dr.                 66,000 To B's Capital A/c                                                                         30,000 To C's Capital a/c                                                                         36,000 (Being Adjustment of profit made)  Working Note :  1. Calculation of Opening Capital  Particulars                                                           A Rs.         B Rs.          C Rs. 1. Closing Capital                                          90,000     3,30,000    6,60,000 2. Add : Drawings                                         3,60,000   3,60,000    3,60,000                                                                             4,50,000  6,90,000   10,20,000 3. Less: Profit already credited (4:1:1)           (1,20,000)  (30,000)   (30,000) 4. Opening Capital with interest on capital   3,30,000   6,60,000  9,90,000 Less: Interest on Capital (4. x 10/110)              (30,000)    (60,000)   (90,000) Opening Capital                                              3,00,000   6,00,000  9,00,000  2. Calculation of Interest on Capital  Interest on A's Capital = 3,00,000 x = 30,000 Interest on B's Capital = 6,00,000 x = 60,000 Interest on C's Capital =9,00,000 x = 90,000  3. Statement showing adjustment  Particulars                                          A Rs.       B Rs.     C Rs.       Total Rs. Interest on Capital 10%                  30,000    60,000    90,000    1,80,000 Profits to be distributed                 1,20,000  30,000   30,000    1,80,000 Less: Interest on Capital 12%         (36,000)  (72,000)  (1,08,000) (216,000) Less: Share profit ratio(1:1:1)            (48,000)  (48,000)  (48,000)   (1,44,000)                                                          66,000     30,000    36,000 Net Effect                                             Dr.             Cr.            Cr.             NIL

essary JOURNAL entries relating to appropriation our of profit and Loss Appropriation Account and the Partners Capital Accounts are GIVEN below:Explanation:Calculation of Reserve:Profit before charging INTEREST on DRAWINGS but after making APPROPRIATIONS Reserve Thus, the Reserve amount will be of Rs. 50,000.Division of Profits:The Profit division among the Partners X and Y are calculated below:The profit of Partner X will be of Rs. 1,18,125 and the profit of Partner Y will be of Rs. 93,125.

ustment entry are CALCULATED below:Explanation:Given,Mannu and shristhi are partners in a firm SHARING profit in the ratio of 3 : 2.Profit for the year ended 31st March, 2018 was ₹ 5,000 which was divided in the agreed ratio, but interest @ 5% p.a. on capital and @ 6% p.a. on DRAWINGS was inadvertently enquired. The interest on capital for Mannu and Shristhi will be Rs. 1500 and Rs. 500 respectively.Thus, a total interest of Rs. 2000 has been made.The Right distribution of Rs. 1820 as of the entry given below is Rs. 1380 for Mannu and Rs. 440 for ShristhiThus, an adjusted amount of Rs. 288 has been debited from Shristhi's capital ACCOUNT and has been credited to Mannu's capital account.

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essary adjustment entries are - JournalP's CAPITAL Ac DR 300 To Q's Capital Ac Dr 8 To R's Capital Ac Dr 292 Working NotesCapital at the beginning of yearParticulars              P      Q      R Closing Capital     40,000 30,000 20,000 + Drawings            10,000 7,500  4,500 - Profit                   30,000 20,000 10,000 Opening Capital   20,000 17500  14500Interest on CapitalP - 20,000 x 5/100 = 1000Q - 17,500 x 5/100 = 875R - 14,500 x 5/100 = 725Adjustments Interest - Loss ( 3:2:1)P - 1000 - 1300 = 300Q - 875 - 867 = 8R - 725 - 433 = 292

rnal entry and Adjustment statement are calculated below:Explanation:CALCULATION of Capital at the beginning is given below.Calculation of Interest on Capital Interest on Mohan's Capital Interest on Vijay's Capital Interest on Anil's Capital Calculation of Final Share of Profits Total CORRECTED PROFIT Available for Distribution  =Profit - Interest On Capital + Interest on DRAWINGS So, Connected profit share of Mohan, Vijay and Anil Thus, each get a profit share of Rs. 6100.As per the journal given below, an AMOUNT of Rs. 550 has been debited from Anil's Capital account and has been credited to Mohan's Capital account.

ustment Jounral entry for the given case is provided below:EXPLANATION:Given,Ram, Mohan and Sohan sharing profits and losses equally have CAPITALS of ₹ 1,20,000, ₹ 90,000 and ₹ 60,000.The interest was credited to them @ 6% instead of @ 5%.Calculation of Interest on Capital at 6% p.a:Calculation of Interest at the RATE of 6%Interest on Ram's Capital Interest on Mohan's Capital Interest on Sohan's Capital Calculation of Interest on Capital at 5% p.a:Calculation of Interest at the rate of 5%Interest on Ram's Capital Interest on Mohan's Capital Interest on Sohan's Capital The adjustment journay entry is given below

n:                                                   Journal  Date            Particulars                             L.F.       Debit Rs.      Credit Rs.                              SAROJ's CAPITAL A/c                Dr.                2,350          Mahinder's Capital A/c             Dr.                1,300           To limits Capital A/c 3.650          (Being Profits wrongly distributed           without providing interest on        capital and drawings, now adjusted)  WORKING Note  1. Calculating of Opening Capital  Particulars                   Saroj Rs.           Mahinder Rs.         Umar Rs. Closing Capital            80,000                 60,000              40,000 Add : Drawings           24,000                  24,000              24,000 Less : Profits (80,000 (40,000)               (30,000)             (10,000)in 4:3:1)  Opening Capital         64,000                54,000               66,000  2. Calculation of Interest on Capital  Interest on Saroj's Capital = 64,000 x-  = 6,400   Interest on Mahinder's Capital =54,000 x = 5,400   Interest on Umar's Capital = 66,000 x = 6,600  3. Calculation of Share of Profits to be credited Profit available for distribution among partners                = Rs.80,000 - Rs.18,400 + Rs.2,000 = Rs.63,600Saroj's Profit Share = 63, 600 x = 31, 800 Mahinder's Profit Share =63,600 x = 23, 850 U mar's Profit Share = 63,600 x = 7,950  4: Statement showing adjustment                             Statement Showing Adjustment  Particulars                 Saroj Rs.    Mahinder Rs.   Umar Rs.    Total Interest on Capital     6,400           5,400            6,600      18,400 Interest on Drawings   (550)          (550)             (900)        (2,000) Profits to be distributed 31,800     23,850         7,950        63,600 Total (A)                        37,650        28,700         13,650      80,000 Less : Profits wrongly  (40.000)    (30.000)      (10.000)     (80,000)distributed                                    ((2.350)       (1.300)            3.650 NET Effect (A - B)           Dr                Dr                  Cr                NIL

essary Journal entry are calculated below:Explanation:Given,Reya, Mona and Nisha shared profits in the ratio of 3 : 2 : 1. The profits for the last three YEAR were ₹ 1,40,000; ₹ 84,000 and ₹ 1,06,000 respectively.Total Profits for Last 3 years ALSO, givenThese profits were by mistake shared equallyTherefore, the wrong distribution of profits will be THUS, RS. 1,10,000 has been given to each of them.Calculation of the Right Distribution of ProfitThus, the Right distribution of Profit will be in the ratio 3 : 2 : 1Thus, a 1/6 th of the Profit will be Rs. 55000Reya's Profit will be Mona's Profit will be Nisha's Profit will be = 55000Total Profits = Rs. 3,30,000Calculation of the Adjustment Amount:Adjustment amount for Reya Adjustment amount for Mona Adjustment amount for NishaThus, an amount of Rs. 55,000 will be credited to Reya from Nisha.

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