Question 26 Chapter 2 – Unimax Class 12 Part 1
Table of Contents
26. Show how the following will be recorded in the capital accounts of partners Ram and Sham when their capitals are fluctuating.
| Ram (Rs.) | Sham (Rs.) | |
| Capital as on 1st April, 2021 | 600000 | 400000 |
| Drawings | 200000 | 80000 |
| Interest on Capital | 8% | 8% |
| Interest on Drawings | 6000 | 2400 |
| Share of Profit | 75000 | 50000 |
| Salary | 24000 | 18000 |
| Commission | 7500 | 6000 |
The solution of Question 26 Chapter 2 – Unimax Class 12 Part 1:
Partner’s Capital Accounts
| Particulars | Ram | Sham |
Particulars | Ram |
Sham |
| To drawings | 200000 | 80000 | By Balance b/d | 600000 | 400000 |
| To Interest on drawings A/c | 6000 | 2400 | By Profit & Loss Appropriation (Profit) | 75000 | 50000 |
| To Bal c/d | 548500 | 423600 | By Salary A/c | 24000 | 18000 |
| By Commission | 7500 | 6000 | |||
| By Int. on Capital A/c | 48000 | 32000 | |||
| 754500 | 506000 | 754500 | 506000 |
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)
- Chapter No. 1 – Financial Statement of Not-For-Profit Organisations
- Chapter No. 2 – Accounting for Partnership Firms – Fundamentals
- Chapter No. 3 – Goodwill: Nature and Valuation
- Chapter No. 4 – Change in Profit-Sharing Ratio Among the Existing Partners
- Chapter No. 5 – Admission of a Partner
- Chapter No. 6 – Retirement/Death of a Partner
- Chapter No. 7 – Dissolution of a Partnership Firm
T.S. Grewal’s Double Entry Book Keeping (Vol. II: Accounting for Companies)
- Chapter No. 8 – Company Accounts – Accounting for Share Capital
- Chapter No. 9 – Company Accounts – Issue of Debentures
- Chapter No. 10 – Redemption of Debentures
T.S. Grewal’s Double Entry Book Keeping (Vol. II: Accounting for Companies)
- Chapter No. 1 – Financial Statements of a Company
- Chapter No. 2 – Financial Statement Analysis
- Chapter No. 3 – Tools of Financial Statement Analysis – Comparative Statements and Common- Size Statements
- Chapter No. 4 – Accounting Ratios
- Chapter No. 5 – Cash Flow Statement
Check out T.S. Grewal +2 Book 2020@ Official Website of Sultan Chand Publication