Question 24 Chapter 2 – Unimax Class 12 Part 1 – 2021

Question 24 Chapter 2 - Unimax Class 12 Part 1 - 2021

Question 24 Chapter 2 – Unimax Class 12 Part 1

24. A starts a business on 1st January, 2021 with Rs. 5000. B joins on 1st May, 2021 with Rs. 10000. On 1st July, 2021 C comes in as a partner with Rs. 15000. On the same date, A contributed Rs. 5000 and B Rs. 10000 as further capital. Calculate capital ratios of partners.

The solution of Question 24 Chapter 2 – Unimax Class 12 Part 1: 

Name of Partner Date Capital (Rs.) Months Product (Rs.)
A 1st Jan., 2021 5000 12 60000
  1st July., 2021 5000 6 30000
        90000
B 1st May., 2021 10000 8 80000
  1st May., 2021 10000 6 60000
        140000
c 1st May., 2021 15000 6 90000

Capital Ratio = 90000 : 140000 : 90000
                      = 9 : 14 : 9

https://tutorstips.com/not-for-profit-organisations/

T.S. Grewal’s Double Entry Book Keeping +2 (Vol. I: Accounting for Not-for-Profit Organizations and Partnership Firms)

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T.S. Grewal’s Double Entry Book Keeping (Vol. II: Accounting for Companies)

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