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A,B,C started a business with capital …

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A,B,C started a business with capital of Rs30000 and Rs20000 respectively. During the year they earned a profit of Rs27000 which was distributed among them in their profit sharing ratio without taking into consideration the following matters of deed. 1) interest on capital at rate of 5%p.a. 2) salary to B and C Rs2000 each 3) special commission to A Rs3000 Prepare a single journal entry to rectify above mistake. Working notes should also be shown clearly.

Posted by Rk Rk 8 years, 3 months ago

CBSE > Class 12 > Accountancy

4 answers

Nisha Deshwal 8 years, 3 months ago

IOC calculate krne k baad amount aaya 2500, 1500, 1000 . Salary hme full year ki given h . Commission sirf A ka given h . Ab P and L appropriation a/c me ye 3 cheej Dr. Hoti h toh jb hm adjustment krenge to ye 3 Cr ho jayengi . Adjustment table me hmare pass 2 colum hote h Partners ka or firm ka, To partner ka ,total cr Hoga A = 5500, B= 3500, C = 3000 and firm ka total hoga 12000 . ye 12000 firm ka loss hoga to ye hmara hoga Dr isko hm sabhi partners me unki ratio me dedenge . Jb hm distribute karenge to aayega A= 4000 ,B = 4000, C = 4000 jiska Dr amount jyada h wo Dr hoga jiska Cr jyada wo partner Cr ho jayega .

Nisha Deshwal 8 years, 3 months ago

Photo thodi na send KR skte h , m apko aese hi samjane ki kosis krti hu ...

Rk Rk 8 years, 3 months ago

Nisha can u send me photo of page where u solved this question

Nisha Deshwal 8 years, 3 months ago

B capital a/c Dr by 500; C capital a/c Dr by 1000and C capital a/c Cr by 1500

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