class 12 accountancy dk goel new edition book 2017 question number 44 page number 1.108

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Rahul answered this

what are you asking i dont understand

Sandeep Sinha answered this

Y and z are patners with capitals of 25000 and 15000 on ist april 2016 each partners is entitled to 9% p.a interest on his capital z is entitled to a salary of 6000 p.a together with a commission of 6% of net profit remaining after deducting interest on capitals and salary and charging his commission the profits for the year ended 31Ist mar 2017 before making any of the above mentioned adjustment amount to 30800 prepare partners capital account when capital are fixed .. when capitals are fluctuating

-6

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Please answere tha solution

Utkarsh answered this

Q 61 of admission of partner

-1

Manas Beniwal answered this

????

Pankajj Kumar answered this

its past adjsutment question... solve it.

Hariharan Ramakrishnan answered this

reverse the profits given, charge the necessary items(salary, interest on capital etc) and adjust the excess and shortage among partners

Fayad Mehamood.mk answered this

what you do is that make rough t shape first ok and in credit side wrrite np as 30800
okk

then take interrest on capital 25000*9/100 and same for 15000 *9/100 as no special treatment is here
no go to nxt line its give salary 6000 pa which is already complete month so directly take 6000 to p/l appropration
okkkk

now take commision line it clearly stattes after deducting all ioc and salary so it come approx21200
now from 21200 * 6/100+6 that is 6/106 take it you will get commisiion ok
now find div profit x= 10000 y=10000 since no psr we take it as equal partner

now all dr things goes o cr of partner why so it isgain for partneer note this it may ask in viva all why question 100 percent sure will be there in head of viva invillagator
iclud9ing opening balances of capital then balance debit side thank u

Fayad Mehamood.mk answered this

i hope my answer iss right but still i give u a hoint

Sakshi answered this

Answer to Q 44 D.K Goel

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Solutions of this 43(A)

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Parth answered this

Profit wrongly credited - A (88000) B (88000) C (44000)
IOC 6% - 24000 15000 6000
Salaries - 60000 40000
now calculate managers commission
BOOM!

Aditya Dhasal answered this

Charge B's salary ( 5000 * 12 = 60000 ) and C' salary 10,000 * 4 = 40000 and charge IOC for ever partner only when the partners have a credit balance and charge comission too, you must credit manager's commission since it does not appear in P/L appropriation as it is a charge against profit therefore we credit in the adjusting entry.
Net Profit that was distributed must be debit since it is wrongly credited.

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Profit and Loss Appropriation Account

For the year ended ??..

Dr.

?

?

Cr.

Particulars

Amount

Rs

Particulars

Amount

Rs

Interest on Capital:

?

Profit and Loss A/c

?

A

5,000

?

(Net Profit)

1,72,000

B

5,000

?

?

?

C

10,000

20,000

?

?

Salary to C

12,000

?

?

Profit transferred to:

?

?

?

A?s Capital A/c

50,000

?

?

?

B?s Capital A/c

44,000

?

?

?

C?s Capital A/c

46,000

1,40,000

?

?

?

1,72,000

?

1,72,000

?

?

?