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 Drawings | 3,500 | 3,000 |
| Interest on Capital | 500 | 300 |
The Content covered in this article:
The solution of Question 14 Chapter 2 of +2 Part-1
: –
| 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 |
||||
Thanks, Please Like and share with your friends
Comment if you have any questions.
Also, Check out the solved question of previous Chapters: –
Usha Publication – Accountancy PSEB (Class 12) – Volume I – Solution
- Chapter No. 1 – Accounting Not for Profit Organisations
- Chapter No. 2 – Partnership Accounts – I
- Chapter No. 3 – Partnership Accounts – II (Introduction)
- Chapter No. 4 – Partnership Accounts – III (Goodwill: Nature and Valuation)
- Chapter No. 5 – Partnership Accounts – IV (Reconstitution of Partnership)
- Chapter No. 6 – Partnership Accounts – V (Admission of A Partner)
- Chapter No. 7 – Partnership Accounts – VI (Retirement and Death of A Partner)
- Chapter No. 8 – Company Accounts (Share Capital)
- Chapter No. 9 – Company Accounts (Issue of Debentures)
- Chapter No. 10 – Company Accounts (Redemption of Debentures)
Usha Publication – Accountancy PSEB (Class 12) – Volume II – Solution
- Chapter No. 1 – Financial Statements of a Company (Balance Sheet Only)
- Chapter No. 2 – Techniques of Financial Statement Analysis
- Chapter No. 3 – Ratio Analysis
- Chapter No. 4 – Cash Flow Statement
Check out T.S. Grewal +2 Book 2020@ Official Website of Sultan Chand Publication
