Question 39 Chapter 2 – Unimax Class 12 Part 1 – 2021

Question 39 Chapter 2 - Unimax Class 12 Part 1 - 2021

Question 39 Chapter 2 – Unimax Class 12 Part 1

39. On 1st April, 2020 A, B and C start a business in partnership. A puts in Rs. 30000 in first but withdraws Rs. 10000 at end of six months. B introduces Rs. 25000 at first and increases it to Rs. 55000 at end of four months but withdraws Rs. 10000 at end of eight months. C brings Rs. 25000 at first but increase it by Rs. 20000 at the end of seven months. During the year ended 31st March, 2021, they make a net profit of Rs. 36000. Show how the partners should divided this amount on the basis of effective capital employed by each partner.

The solution of Question 39 Chapter 2 – Unimax Class 12 Part 1:

A’s Capital    
Capital (Rs.) Months for which the capital has been used in business Product (Rs.)
30000 6 180000
20000 6 120000
  Total Capital 300000
B’s Capital    
25000 4 100000
55000 4 220000
45000 4 180000
    500000
C’s Capital    
25000 7 175000
45000 5 225000
    400000

Capital Ratio of A, B & C A : B : C = 300000 : 500000 : 400000 = 3 : 5 : 4

Profit & Loss of Appropriation A/c For the year ended 

Particulars   Rs. Particulars Rs.
To Interest on Capital     By Net Profit 36000
– A (3/12) 9000      
– B (5/12) 15000      
– C (4/12) 12000 36000    
    36000   36000

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)

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

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

Check out T.S. Grewal +2 Book 2020@ Official Website of Sultan Chand Publication

 

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