Question

From the following information, prepare capital accounts of partners Rooban and Deri, when their capitals are fixed.

Particulars	Rooban ₹	Deri ₹
Capital on 1st April, 2018	70,000	50,000
Current account on 1st April, 2018 (Cr.)	25,000	15,000
Additional capital introduced	18,000	16,000
Drawings during 2018 – 2019	10,000	6,000
Interest on drawings	500	300
Share of profit for 2018 – 2019	35,000	25,800
Interest on capital	3,500	2,500
Salary	Nil	18,000
Commission	12,000	Nil

Answer 1

Dr.	Capital Account				Cr.
Particulars	Rooban	Deri	Particulars	Rooban	Deri
To balance c/d	88,000	66,000	By balance b/d	70,000	50,000
			By bank A/c	18,000	16,000
			By Balance b/d	88,000	66,000

 

Dr.	Current Account				Cr.
Particulars	Rooban	Deri	Particulars	Rooban	Deri
To Drawing	10,000	6,000	By balance b/d	25,000	15,000
To Interest on Drawing	500	300	By share of profit	35,000	25,800
To Balance c/d	65,000	55,000	By Interest on capital	3,500	2,500
			By Salary		18,000
			By Commission	12,000
	75,500	61,300		75,500	61,300
			By Balance b/d	65,000	55,000