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The revolt of 1857 was the conscious beginning of the Independence struggle against the colonial tyranny of the British. There are various names for the revolt of 1857 – India's First War of Independence, Sepoy Mutiny, etc. The revolt began on May 10, 1857, at Meerut as a sepoy mutiny.
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Bruises are not clearly seen as upper skin remains undamaged and inner blood vessels are damaged and collect beneath the skin. A fresh bruise may actually be reddish and after a few hours it turns to blue or dark purple.
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Preeti Dabral 3 years, 1 month ago
PROFIT AND LOSS APPROPRIATION ACCOUNT
(for the year ended 31st March, 2015)
| Dr. | Cr. | ||||
| Particulars | ₹ | Particulars | ₹ | ||
| To General Reserve A/c (10% of 4,97,750) | 49,775 | By Profit & Loss A/c | 5,00,000 | ||
| To Interest on Capital: | Less: Interest on Loan | 2,250(5) | 4,97,750 | ||
| Shankar's Current A/c | 25,000(1) | By Interest on Drawings(3) | |||
| Manu's Current A/c (10% of 4,00,000) | 40,000 | 65,000 | Shankar's Current A/c | 1,800 | |
| To Profit transferred to: | Manu's Current A/c | 1,800 | 3,600 | ||
| Shankar's Current A/c | 2,31,945 | ||||
| Manu's Current A/c | 1,54,630 | 3,86,575 | |||
| 5,01,350 | 5,01,350 |
PARTNER'S FIXED CAPITAL ACCOUNTS
| Dr. | Cr. | ||||||
| Date | Particulars | Shankar ₹ |
Monu ₹ |
Date | Particulars | Shankar ₹ |
Manu ₹ |
| 2015 Mar. 31 | To Bal. c/d | 4,00,000 | 4,00,000 | 2014 Apr 1 | By bal. b/d | 2,00,000 | 4,00,000 |
| Jan. 1 | By Bank A/c | 2,00,000 | |||||
| 4,00,000 | 4,00,000 | 4,00,000 | 4,00,000 |
PARTNER'S CURRENT ACCOUNTS
| Dr. | Cr. | ||||
| Particulars | Shankar ₹ |
Manu ₹ |
Particulars | Shankar ₹ |
Manu ₹ |
| To Drawings(2) | 24,000 | 24,000 | By Balance b/d | 50,000 | 1,00,000 |
| To Interest on Drawings | 1,800 | 1,800 | By Interest on Capital | 25,000 | 40,000 |
| To Bal c/d | 2,81,145 | 2,68,830 | By Profit & Loss Appropriation A/c | 2,31,945 | 1,54,630 |
| 3,06,945 | 2,94,630 | 3,06,945 | 2,94,630 |
MANU'S LOAN ACCOUNT
| Dr. | Cr. | ||||
| Date | Particulars | ₹ | Date | Particulars | ₹ |
| 2015 Mar. 31 | To Balance c/d | 1,52,250 | 2015 Jan. 1 | By Bank A/c | 1,50,000 |
| Mar. 31 | By Interest on Loan A/c(5) | 2,250 | |||
| 1,52,250 | 1,52,250 |
Working Note:
- interest on Shankar's Capital ={tex}2,00,000\times\frac{10}{100}\times\frac{9}{12}+4,00,000\times\frac{10}{100}\times\frac{3}{12}{/tex} = 25,000
- Total Drawings = 6,000 {tex}\times{/tex} 4 = 24,000
- Interest on Drawings:
Since drawings are made at the beginning of each quarter, interest will be charged for 7.5 months: {tex}24,000 \times \frac{12}{100} \times \frac{7.5}{12}{/tex} = ₹1,800 - If Partnership deed is silent about Interest on Loan then Interest on Loan will be allowed @6% p.a.
- Interest on Loan = {tex}1,50,000 \times \frac{6}{100} \times \frac{3}{12}{/tex} = 2,250
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Vanshika Kapoor 3 years, 1 month ago
8Thank You