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Question 14 Chapter 2 of +2-Part-1
14. (Capital a/c’s) Prepare Capital accounts of partner X and Y:
| X | Y | |
| Opening Capital | 30,000 | 20,000 |
| Additional Capital | 5,000 | 10,000 |
| Drawings | 3,000 | 2,000 |
| Share in profits | 12,000 | 10,000 |
| Salary | 2,000 | 3,000 |
| Commission | 4,000 | …….. |
| Interest on Capital | 3,500 | 3,000 |
| Interest on Drawings | 500 | 300 |
Partners’ Capital Accounts
| Particulars |
X | Y | Particulars |
X | Y | ||
|---|---|---|---|---|---|---|---|
| To Drawings A/c | 3,000 | 2,000 | By Balance B/d | 30,000 | 20,000 | ||
| To Interest on Drawings A/c | 500 | 300 | By Cash | 5,000 | 10,000 | ||
| By Share in profits | 12,000 | 10,000 | |||||
| By Interest on Capital A/c | 3,500 | 3,000 | |||||
| By Salary | 2,000 | 3,000 | |||||
| By Commission | 4,000 | - | |||||
| To Balance c/d | 53,000 | 43,700 | |||||
| 56,500 | 46,000 |
56,500 | 46,000 |
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Accounting & Commerce Educator
Sarbjit Singh holds a B.Com and M.Com degree and has over 12 years of teaching experience in double entry bookkeeping, financial accounting, and business studies.
This guide covers "Question 14 Chapter 2 of +2 Part-1 - USHA Publication 12 Class Part - 1", focusing on key definitions, step-by-step concepts, applications, and revision guidelines relevant to USHA Publication +2 Part 1.
It is primarily curated for Class 11 and Class 12 high school commerce, accounting, and economics students, as well as aspirants preparing for board exams or CA Foundation.
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