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प्रश्न
Ankur, Bhavna and Disha are partners in a firm. On 1st April 2023, the balance in their capital accounts stood at ₹ 14,00,000, ₹ 6,00,000 and ₹ 4,00,000, respectively. They shared profits in the proportion of 7 : 3 : 2 respectively. Partners are entitled to interest on capital @ 6% per annum and a salary to Bhavna ₹ 50,000 p.a. and a commission of ₹ 3,000 per month to Disha as per the provisions of the Partnership Deed.
Bhavna’s share of profit (excluding interest on capital) is guaranteed at not less than ₹ 1,70,000 p.a. Disha’s share of profit (including interest on capital but excluding salary) is guaranteed at not less than ₹ 1,50,000 p.a. Any deficiency arising on that account shall be met by Ankur. The profits of the firm for the year ended 31st March, 2024, amounted to ₹ 9,50,000.
Prepare a ‘Profit and Loss Appropriation Account’ for the year ended 31st March, 2024.
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उत्तर
| Dr. | Profit and Loss Appropriation Account for the year ended 31st March, 2024 |
Cr. | |||
| Particulars | Amount (₹) | Amount (₹) | Particulars | Amount (₹) | Amount (₹) |
| To Interest on Capital A/c | 1,44,000 | By Profit and Loss A/c (Net Profit) | 9,50,000 | ||
| Ankur | 84,000 | ||||
| Bhavna | 36,000 | ||||
| Disha | 24,000 | ||||
| To Bhavna’s Salary A/c | 50,000 | ||||
| To Disha’s commission | 36,000 | ||||
| To Balance c/d | 7,20,000 | ||||
| 9,50,000 | 9,50,000 | ||||
| To Net Profit transferred to: | By Balance b/d | 7,20,000 | |||
| Ankur’s Capital A/c | 4,20,000 | 4,14,000 | |||
| Less: Transferred to Disha | 6,000 | ||||
| Bhavna’s Capital A/c | 1,80,000 | ||||
| Disha’s Capital A/c | 1,20,000 | 1,26,000 | |||
| Add: Transferred from Ankur | 6,000 | ||||
| 7,20,000 | 7,20,000 | ||||
Working Note:
1. Calculate Interest on Capital:
Rate = 6%
Ankur = `14,00,000 xx 6/100`
= ₹ 84,000
Bhavna = `6,00,000 xx 6/100`
= ₹ 36,000
Disha = `4,00,000 xx 6/100`
= ₹ 24,000
2. Partner’s Share of Profit (Annual Profit = ₹ 7,20,000)
Profit-sharing ratio (Ankur : Bhavna : Disha) = 2 : 7 : 3
(i) Bhavna’s share of profit = `7,20,000 xx 7/12`
= ₹ 4,20,000
∴ Bhavna’s share of profit is ₹4,20,000, which is more than the guaranteed amount. Hence, no guarantee adjustment for Bhavna.
(ii) Disha’s Share of Profit = `7,20,000 xx 3/12`
= ₹ 1,80,000
(iii) Disha’s Total Amount Earned = Share of Profit + Interest on Capital
= 1,80,000 + 24,000
= ₹ 2,04,000
(iv) Guaranteed Amount to Disha = ₹ 1,50,000
(v) Since Disha’s actual amount earned (₹ 2,04,000) is more than the guaranteed amount (₹ 1,50,000).
Deficiency = Nil (₹ 0)
∴ No amount is to be borne by Ankur.
