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प्रश्न
Anil, Sunil, and Sanjay have omitted interest on capital for the two years ended on 31st March, 2023. Their fixed capitals in two years were Anil ₹ 8,00,000, Sunil ₹ 7,00,000, and Sanjay ₹ 3,00,000. The rate of interest on capital is 10% p.a. Their profit sharing ratios were in the first year 4 : 3 : 2 and in the second year 3 : 2 : 1.
Give the necessary adjusting entry at the beginning of next year.
रोजनामा प्रविष्टि
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उत्तर
| Necessary Adjusting Entry | ||
|---|---|---|
| Particulars | Dr. ₹ | Cr. ₹ |
| Anil’s Current A/c Dr. | 10,000 | |
| Sanjay’s Current A/c Dr. | 10,000 | |
| To Sunil’s Current A/c | 20,000 | |
Working note:
Step 1: Interest on Capital per year
At 10% p.a.:
- Anil: ₹ 8,00,000 × 10% = ₹ 80,000
- Sunil: ₹ 7,00,000 × 10% = ₹ 70,000
- Sanjay: ₹ 3,00,000 × 10% = ₹ 30,000
Total interest each year:
₹ 80,000 + ₹ 70,000 + ₹ 30,000 = ₹ 1,80,000
First Year - Ratio 4 : 3 : 2
The total interest of ₹ 1,80,000 would have reduced the divisible profit. Its burden in the ratio 4 : 3 : 2 is:
| Partner | Interest due ₹ | Share of ₹1,80,000 ₹ | Net Adjustment |
|---|---|---|---|
| Anil | 80,000 | 80,000 | Nil |
| Sunil | 70,000 | 60,000 | +10,000 |
| Sanjay | 30,000 | 40,000 | –10,000 |
Second Year - Ratio 3 : 2 : 1
Share of ₹ 1,80,000:
- Anil = ₹ 1,80,000 × `3/6` = ₹ 90,000
- Sunil = ₹ 1,80,000 × `2/6` = ₹ 60,000
- Sanjay = ₹ 1,80,000 × `1/6` = ₹ 30,000
| Partner | Interest due ₹ | Share of ₹1,80,000 ₹ | Net Adjustment |
|---|---|---|---|
| Anil | 80,000 | 90,000 | –10,000 |
| Sunil | 70,000 | 60,000 | +10,000 |
| Sanjay | 30,000 | 30,000 | Nil |
Total adjustment for two years
| Partner | 1st Year | 2nd Year | Final Adjustment |
|---|---|---|---|
| Anil | Nil | –10,000 | Dr. ₹10,000 |
| Sunil | +10,000 | +10,000 | Cr. ₹20,000 |
| Sanjay | –10,000 | Nil | Dr. ₹10,000 |
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