Question
Fill in the missing figures in the following Accounts:
✓
Answer
Working Notes:rs share of Profit is $\frac{2}{5}$ and his share is ₹ 10,000
Hence, total Profit $=10,000\times\frac{5}{2}=₹\ 25,000$
X's share $=25,000\times\frac{3}{5}=₹\ 15,000$
Salary to Y is the balancing figure of Profit & Loss Appropriation A/c.
Interest on X's Capital @ 8% is ₹ 12,000
Hence, X's Capital $=12,000\times\frac{100}{8}=₹\ 1,50,000$
Interest on Y's Capital @ 8% p.a. is ₹ 8,000
Hence,Y's Capital $=8,000\times\frac{100}{8}=₹\ 1,00,000$
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| ₹ | |
|
1st June
|
1,000
|
|
1st August
|
750
|
|
1st October
|
1,250
|
|
1st December
|
500
|
|
1st February
|
500
|