Question 27 Chapter 2 – Unimax Class 12 Part 1
Table of Contents
27. Show how the following will be recorded in the capital and current accounts of Moon and Star.
| Moon (Rs.) | Star (Rs.) | |
| Capital as on 1st April, 2021 | 75000 | 100000 |
| Current A/c as on 1st April, 2021 | 5000(Cr.) | 3000(Dr.) |
| Share of Profit | 2000 | 1500 |
| Drawings | 10000 | 2500 |
| Interest on Capital | 7500 | 10000 |
| Interest on Drawings | 600 | 150 |
| Salary | 300 | 200 |
The solution of Question 27 Chapter 2 – Unimax Class 12 Part 1:
Partner’s Capital Accounts
| Date | Particulars | Moon | Star | Date | Particulars | Moon | Star |
| 31-3-21 | To Balance c/d | 75000 | 100000 | 1-4-2020 | By Balance b/d | 75000 | 100000 |
Partner’s Capital Accounts
| Date | Particulars | Moon | Star | Date | Particulars | Moon | Star |
| 1-4-20 | To Bal b/d | 3000 | 1-4-2020 | By Balance b/d | 5000 | ||
| To drawings | 10000 | 2500 | By Profit & Loss App. A/c (Profit) | 2000 | 1500 | ||
| To Int. on drawings A/c | 600 | 150 | By int. on cap. | 7500 | 10000 | ||
| By Salary A/c | 300 | 200 | |||||
| 31-3-21 | To Bal c/d | 4200 | 60500 | ||||
| 14800 | 11700 | 14800 | 11700 | ||||
| By Balance b/d | 4200 | 6050 |
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