Advertisements
Advertisements
प्रश्न
On 1.4.2025, Brij and Nandan entered into a partnership to construct toilets in government girls schools in the remote areas of Uttarakhand. They contributed capitals of ₹ 10,00,000 and ₹ 15,00,000 respectively. Their profit sharing ratio was 2 : 3 and interest allowed on capital as provided in the Partnership Deed was 12% per annum. During the year ended 31.3.2014, the firm earned a profit of ₹ 2,00,000
Prepare Profit and Loss Appropriation Account of Brij and Nandan for the year ended 31.3.2026.
Advertisements
उत्तर
| Profit and Loss Appropriation Account for the year ended March 2026 |
|||
|---|---|---|---|
| Dr. Particulars | ₹ | Cr. Particulars | ₹ |
| To Interest on Capital A/c: | By Profit and Loss A/c | 2,00,000 | |
| Brij | 80,000 | ||
| Nandan | 1,20,000 | ||
| Total Interest on Capital | 2,00,000 | ||
| Total | 2,00,000 | Total | 2,00,000 |
Working Notes:
WN1 Calculation of Interest on Capital]
On Brij's Capital = `1000000 xx 12/100 = 120000`
On Nandan's Capital = `1500000 xx 12/100 = 180000`
Total Interest = 1,20,000 + 1,80,000 = 3,00,000
WN 2 Calculation of Proportionate Interest on Capital
Proportionate Interest to Brij = `120000/300000 xx 200000 = 80000`
Proportionate Interest to Nandan = `180000/300000 xx 200000 = 120000`
