Question 17 Chapter 2 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 17 Chapter 2 of +2- Part-
Q-17 - CH-2 - Usha +2 Book 2018 - Solution


Question 17 Chapter 2 of +2-Part-1


17. (Fixed Capital a/c’s) Prepare Current accounts of partner X and Y for the year ended 31st December 2018 from the following information :

Balance of capital account on 1st Jan 20183,00,0002,00,000
Balance of current accounts on 1st Jan 201816,640(Cr.)4,800(Dr.)
Drawings of the partners2,000 p.m.1,000 p.m.
Interest on Capitals @12% p.a.??
Interest on Drawings @ 12% p.a.1,560660
Salary of partners9,0006,000
Share in a net loss12,0008,000

The solution of Question 17 Chapter 2 of +2 Part-1: – 

Partners’ Current Account
for the year ending 31st December 2018
To balance b/d 4,800By Balance B/d 16,640
To Drawings A/c 24,00012,000By Interest on Capital A/c 36,00024,000
To Interest on Drawings A/c 1,560660By Salary a/c 9,0006,000
To share in losses 12,0008,000    
To Balance c/d  24,0804,540    

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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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