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

Question 14 Chapter 2 of +2- Part-

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 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

 

 

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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

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2 Book 1 min - Question 14 Chapter 2 of +2 Part-1 - USHA Publication  12 Class Part - 1
Vol. I: Accounting for Not-for-Profit Organizations and Partnership Firms

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