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X, Y and Z are partners sharing profits in the ratio of 2 : 1 : 1. Their capitals as on 1st April, 2023, were ₹ 1,00,000, ₹ 60,000 and ₹ 40,000, respectively. - Accounts

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प्रश्न

X, Y and Z are partners sharing profits in the ratio of 2 : 1 : 1. Their capitals as on 1st April, 2023, were ₹ 1,00,000, ₹ 60,000 and ₹ 40,000, respectively. At the end of the year ending 31st March, 2024, it was found out that interest on capitals @ 6% p.a., salaries to X of ₹ 1,000 per month and Z of ₹ 2,000 per month were not adjusted from the profits. In the adjusting entry to be made in the next year:

विकल्प

  • Dr. X ₹ 6,000; Dr. Y ₹ 8,400 and Cr. Z ₹ 14,400

  • Cr. X ₹ 6,000; Cr. Y ₹ 8,400 and Dr. Z ₹ 14,400

  • Dr. X ₹ 500; Dr. Y ₹ 150 and Cr. Z ₹ 650

  • Cr. ₹ 500; Cr. Y ₹ 150 and Dr. Z ₹ 650

MCQ
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उत्तर

Dr. X ₹ 6,000; Dr. Y ₹ 8,400 and Cr. Z ₹ 14,400

Explanation:

Statement of Adjustment
Particulars X (₹) Y (₹) Z (₹) Total (₹)
Interest on Capitals @ 6% p.a. 6,000 3,600 2,400 12,000
Salary to Partners 12,000 - 24,000 36,000
Total Amount Payable (Cr.) 18,000 3,600 26,400 48,000
Division of firm’s loss of ₹ 48,000 in 2 : l : 1 (Dr.) 24,000 12,000 12,000 48,000
  (Dr.) 6,000 (Dr.) 8,400 (Cr.) 14,400 -
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अध्याय 1: Accounting for Partnership Firms - Fundamentals - OBJECTIVE TYPE QUESTIONS [पृष्ठ १.१९१]

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डी. के. गोएल Accountancy Volume 1 and 2 [English] Class 12 ISC
अध्याय 1 Accounting for Partnership Firms - Fundamentals
OBJECTIVE TYPE QUESTIONS | Q 13. | पृष्ठ १.१९१
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