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Question 60 Chapter 2 of Class 12 Part – 1 Usha Publication
60. (Capital ratio/ interest on capital) X and Y commenced business on 1st April,2016 with a capital of Rs.20,000 and Rs.10,000 respectively. They agreed to share profits and losses in the ratio of their capitals. You are required to distribute the profit for the year which was Rs.42,200:
| Capital Introduced | Capital Withdrawn | |||
| X | Y | X | Y | |
| 1st June | 5,000 | - | - | - |
| 1st Aug | - | 3,000 | 2,000 | - |
| 30th Nov | 6,000 | - | - | 5,000 |
| 31-Mar | - | 5,000 | 1,000 | - |
We are providing a solution of Question 60 Chapter 2 of Class 12 Part - 1 Usha Publication in two formats. one is in Video format and another is in article format. Check out both formats as follows:
The video consists solution of questions number from 60 to 65 in Chapter No. 2 class 12 of Usha publication. To check the direct solution of question no. 60 from the following video by using time stamps of the video.
Calculation of Capital ratio:
| X | |||||
|---|---|---|---|---|---|
| Date |
Capital Brought |
Capital Withdrawn |
Net Capital (A) |
Months (B) |
Product (C=A*B) |
| 1-4-16 | 20,000 | - | 20,000 | 2 | 40,000 |
| 1-6-16 | 5,000 | - | 25,000 | 2 | 50,000 |
| 1-8-16 | - | 2,000 | 23,000 | 4 | 92,000 |
| 30-11-16 | 6,000 | - | 29,000 | 4 | 1,16,000 |
| 31-3-17 | 1,000 | 28,000 | 0 | - | |
| 2,98,000 | |||||
Calculation of Capital ratio:
| Y | |||||
|---|---|---|---|---|---|
| Date |
Capital Brought |
Capital Withdrawn |
Net Capital (A) |
Months (B) |
Product (C=A*B) |
| 1-4-16 | 10,000 | - | 10,000 | 4 | 40,000 |
| 1-8-16 | 3,000 | - | 13,000 | 4 | 52,000 |
| 30-11-16 | - | 5,000 | 8,000 | 4 | 32,000 |
| 31-3-17 | 5,000 | - | 13,000 | 0 | - |
| 1,24,000 | |||||
Capital ratio : 298:124 or 149:62
| X's Share | = | 42,200 | X | 149 |
| 211 | ||||
| = | 29,800/- | |||
| Y's Share | = | 42,200 | X | 62 |
| 211 | ||||
| = | 12,400/- | |||
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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.
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