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प्रश्न
Ashok, Brijesh and Cheena are partners sharing profits and losses in the ratio of 2 : 2 : 1. Ashok and Brijesh have guaranteed that Cheena share in any year shall be less than Rs 20,000. The net profit for the year ended March 31, 2017 amounted to Rs 70,000. Prepare Profit and Loss Appropriation Account.
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उत्तर
Profit and Loss Appropriation Account as on
March 31, 2017
Dr. Cr.
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Particulars |
Amount Rs |
Particulars |
Amount Rs |
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Profit transferred to |
|
Profit and Loss |
70,000 |
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Ashok’s Capital |
28,000 |
25,000 |
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Less: Cheena’s share of deficiency {6,000 × (1/2)} |
(3,000) |
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Brijesh’s Capital |
28,000 |
25,000 |
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Less: Cheena’s share of deficiency {6,000 × (1/2)} |
(3,000) |
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Cheena’s Capital |
14,000 |
20,000 |
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Add: Deficiency received from |
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|||||||||||
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Ashok |
3,000 |
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|
Brijesh |
3,000 |
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|
70,000 |
70,000 |
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Rakesh |
Month |
Rs |
|
|
May 31, 2016 |
600 |
|
|
June 30, 2016 |
500 |
|
|
August 31, 2016 |
1,000 |
|
|
November 1, 2016 |
400 |
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|
December 31, 2016 |
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|
|
January 31, 2017 |
300 |
|
|
March 01, 2017 |
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|
Rohan |
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February 01 |
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|
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|
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|
December 31 |
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|
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|
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What will the amount of interest on drawings of the partners?
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Following is their Profit & Loss Appropriation Account.
| Particulars | (₹) | Particulars | (₹) |
| To Interest on Capital | By Profit & loss account (After manager’s commission) | ___(2)___ | |
| Richa | ______ | ||
| Anmol | ______ | ||
| To Anmol’s Salary a/c | 12,500 | ||
| To Profit transferred to: | |||
| Richa’s Capital A/C (1) | ___(1)___ | ||
| Anmol’s Capital A/c | ______ | ||
| ______ | ______ |
The amount to be reflected in blank (1) will be:
