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प्रश्न
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A, B and C were partners in a firm having capitals of ₹ 2,00,000; ₹ 2,00,000 and ₹ 80,000 respectively on 1st April, 2025. Their Current Account balances were A: ₹ 20,000; B: ₹ 10,000 and C: ₹ 5,000 (Dr.). According to the partnership deed the partners were entitled to interest on capital @ 10% p.a. B being the working partner was also entitled to a salary of ₹ 6,000 per quarter. The profits were to be divided as follows:
The firm made a profit of ₹ 2,80,000 for the year ended 31st March, 2026 before charging any of the above items. |
Prepare the Profit & Loss Appropriation Account and Partners' Current Accounts.
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उत्तर
| Dr. | Profit & Loss Appropriation Account | Cr. | ||
| Particulars | ₹ | ₹ | Particulars | ₹ |
| To Interest on Capital A/c: | By Net Profit b/d (from P&L A/c) | 2,80,000 | ||
| A | 20,000 | |||
| B | 20,000 | |||
| C | 8,000 | 48,000 | ||
| To B's Salary A/c | 24,000 | |||
| To Profit transferred to: | ||||
| A's Current A/c | 91,000 | |||
| B's Current A/c | 78,500 | |||
| C's Current A/c | 38,500 | 2,08,000 | ||
| 2,80,000 | 2,80,000 | |||
| Partners' Current Accounts |
|||||||
| Particulars | A (₹) | B (₹) | C (₹) | Particulars | A (₹) | B (₹) | C (₹) |
| To Balance b/d | 5,000 | By Balance b/d | 20,000 | 10,000 | |||
| By Interest on Capital | 20,000 | 20,000 | 8,000 | ||||
| By Partner's Salary | 24,000 | ||||||
| By P&L Appropriation A/c | 91,000 | 78,500 | 38,500 | ||||
| To Balance c/d | 1,31,000 | 1,32,500 | 41,500 | ||||
| Total | 1,31,000 | 1,32,500 | 46,500 | Total | 1,31,000 | 1,32,500 | 46,500 |
Working Note:
Appropriations Required
Interest on Capital (@ 10% p.a. on Fixed Capitals):
- A: ₹ 2,00,000 × 10% = ₹ 20,000
- B: ₹ 2,00,000 × 10% = ₹ 20,000
- C: ₹ 80,000 × 10% = ₹ 8,000
- Total Interest on Capital = ₹ 48,000
B's Salary:
6,000 × 4 quarters = 24,000
Divisible Profit = 2,80,000 − 48,000 (IOC) − 24,000 (Salary) = 2,08,000
Division of Divisible Profit (₹ 2,08,000)
| Slab/Step | Basis/Ratio | Total (₹) | A (₹) | B (₹) | C (₹) |
| First ₹ 60,000 | Capital Ratio (5 : 5 : 2) | 60,000 | 25,000 | 25,000 | 10,000 |
| Next ₹ 1,00,000 | Given Ratio (4 : 3 : 1) | 1,00,000 | 50,000 | 37,500 | 12,500 |
| Remaining ₹ 48,000 | Equal Ratio (1 : 1 : 1) | 48,000 | 16,000 | 16,000 | 16,000 |
| Total Share of Profit | 2,08,000 | 91,000 | 78,500 | 38,500 |
