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प्रश्न
Rakesh and Roshan are partners, sharing profits in the ratio of 3:2 with capitals of Rs 40,000 and Rs 30,000, respectively. They withdrew from the firm the following amounts, for their personal use:
|
Rakesh |
Month |
Rs |
|
|
May 31, 2016 |
600 |
|
|
June 30, 2016 |
500 |
|
|
August 31, 2016 |
1,000 |
|
|
November 1, 2016 |
400 |
|
|
December 31, 2016 |
1,500 |
|
|
January 31, 2017 |
300 |
|
|
March 01, 2017 |
700 |
|
Rohan |
At the beginning of each month |
400 |
Interest is to be charged @ 6% p.a. Calculate interest on drawings, assuming that book of accounts are closed on March 31, 2017, every year.
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उत्तर
Rakesh’s Interest on Drawings
|
|
Drawings × Period |
Product |
|
31 May 2016 to 31 March 2017 |
600 × 10 = |
6,000 |
|
30 June 2016 to 31 March 2017 |
500 × 9 = |
4,500 |
|
31 August 2016 to 31 March 2017 |
1,000 × 7 = |
7,000 |
|
1 November 2016 to 31 March 2017 |
400 × 5 = |
2,000 |
|
31 December 2016 to 31 March 2017 |
1,500 × 3 = |
4,500 |
|
31 January 2017 to 31 March 2017 |
300 × 2 = |
6,00 |
|
01 March 2017 to 31 March 2017 |
700 × 1 = |
700 |
|
|
Sum of Product |
25,300 |
Interest = Sum of Product × `"Rate"/100` x `1/12`
= 25,300 x `6/100` x `1/12`
= Rs 126.5
Interest on Rohan’s Capital
= Total Drawing × `"Rate"/100` x `13/[ 2 xx 12]`
= 4,800 x `6/100` x `3/[ 2 xx 12]`
= Rs 156
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|
|
Sukesh (Rs) |
Verma* (Rs) |
|
Capital Accounts |
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|
Current Accounts |
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|
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|
Liabilities |
Amount (Rs.) |
Amount (Rs.) |
Assets |
Amount (Rs.) |
Amount (Rs.) |
|
Mannu’s Capital |
30,000 |
40,000 | Drawings: | 6,000 | |
|
Shristhi’s Capital |
10,000 |
Mannu | 4,000 | ||
| Shristhi | 2,000 | ||||
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|
Rakesh |
Month |
Rs. |
|
|
May 31, 2019 |
600 |
|
|
June 30, 2019 |
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|
|
August 31, 2019 |
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|
|
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400 |
|
|
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|
|
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|
|
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|
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At the beginning of each month |
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| 1. | Gain on sale of fixed tangible assets | 12,50,000 |
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| 1. | Gain on sale of fixed tangible assets | 12,50,000 |
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|
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| 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 (2) will be:
