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Question 14 Chapter 2 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 14 Chapter 2 of +2- Part-
Q-14 - CH-2 - Usha +2 Book 2018 - Solution

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Question 14 Chapter 2 of +2-Part-1

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14. (Capital a/c’s) Prepare Capital accounts of partner X and Y:

 XY
Opening Capital30,00020,000
Additional Capital5,00010,000
Drawings 3,0002,000
Share in profits12,00010,000
Salary2,0003,000
Commission4,000……..
Interest on Capital3,5003,000
Interest on Drawings500300

The solution of Question 14 Chapter 2 of +2 Part-1: – 

Partners’ Capital Accounts 
Particulars
X Y Particulars
XY
To Drawings A/c 3,0002,000By Balance B/d 30,00020,000
To Interest on Drawings A/c 500300By Cash 5,00010,000
    By Share in profits 12,00010,000
    By Interest on Capital A/c 3,5003,000
    By Salary 2,0003,000
    By Commission 4,000
To Balance c/d  53,00043,700    
  56,50046,000
  56,50046,000

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Also, Check out the solved question of previous Chapters: –

Usha Publication – Accountancy PSEB (Class 12) – Volume I – Solution

Usha Publication – Accountancy PSEB (Class 12) – Volume II – Solution

Check out T.S. Grewal +2 Book 2020@ Official Website of Sultan Chand Publication

+2 Book 1-min
Vol. I: Accounting for Not-for-Profit Organizations and Partnership Firms

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