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A and B were partners is a firm sharing profits and loss in the proportion of 112:48 their capitals on 1.04.2019 were A Rs 12000credit and B1800(Dr).It was provided in the partnership deed that before distribution of profit. (1) interest on capitals of the partner were to be allowed at 5%p.a (2) interest on the total drawings was to be charged @4%p.a for six monthly an average . (3)A was to receive a salary of Rs 200per month. (4)Asumof Rs 2000 was to be transferred to reserve fund.?
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A and B were partners is a firm sharing profits and loss in the propor...
Calculation of Interest on Capitals and Drawings
- Interest on Capitals:
- A's capital on 1.04.2019 = Rs 12000credit
- B's capital on 1.04.2019 = Rs 1800(Dr)
- Total capital = Rs 12000 - Rs 1800 = Rs 10200
- Interest on capital = 5% p.a
- Interest on A's capital = Rs 12000 x 5/100 = Rs 600
- Interest on B's capital = Rs 1800 x 5/100 = Rs 90 (to be deducted)
- A's share of interest = Rs 600
- B's share of interest = Rs 90 (to be deducted)
- Interest on Drawings:
- Total drawings = ?
- Average drawings = ?
- Interest on drawings = 4% p.a
- Calculation of total and average drawings is required to calculate interest on drawings.
Salary and Transfer to Reserve Fund:
- Salary to A:
- A was to receive a salary of Rs 200 per month.
- Salary for the year = Rs 200 x 12 = Rs 2400
- Transfer to Reserve Fund:
- A sum of Rs 2000 was to be transferred to the Reserve Fund.
Distribution of Profit and Loss:
- Profit and loss are to be distributed in the ratio of 112:48
- Calculation of profit or loss is required to distribute it in the above ratio.
Final Calculation of Net Profit or Loss:
- Calculation of net profit or loss = Profit or loss - (Interest on capitals + Interest on drawings + Salary + Transfer to Reserve Fund)
- If the result is positive, it is a net profit, and if it is negative, it is a net loss.
- The net profit or loss will be distributed in the ratio of 112:48 between A and B.
- Interest on Capitals:
- A's capital on 1.04.2019 = Rs 12000credit
- B's capital on 1.04.2019 = Rs 1800(Dr)
- Total capital = Rs 12000 - Rs 1800 = Rs 10200
- Interest on capital = 5% p.a
- Interest on A's capital = Rs 12000 x 5/100 = Rs 600
- Interest on B's capital = Rs 1800 x 5/100 = Rs 90 (to be deducted)
- A's share of interest = Rs 600
- B's share of interest = Rs 90 (to be deducted)
- Interest on Drawings:
- Total drawings = ?
- Average drawings = ?
- Interest on drawings = 4% p.a
- Calculation of total and average drawings is required to calculate interest on drawings.
Salary and Transfer to Reserve Fund:
- Salary to A:
- A was to receive a salary of Rs 200 per month.
- Salary for the year = Rs 200 x 12 = Rs 2400
- Transfer to Reserve Fund:
- A sum of Rs 2000 was to be transferred to the Reserve Fund.
Distribution of Profit and Loss:
- Profit and loss are to be distributed in the ratio of 112:48
- Calculation of profit or loss is required to distribute it in the above ratio.
Final Calculation of Net Profit or Loss:
- Calculation of net profit or loss = Profit or loss - (Interest on capitals + Interest on drawings + Salary + Transfer to Reserve Fund)
- If the result is positive, it is a net profit, and if it is negative, it is a net loss.
- The net profit or loss will be distributed in the ratio of 112:48 between A and B.
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A and B were partners is a firm sharing profits and loss in the propor...
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A and B were partners is a firm sharing profits and loss in the proportion of 112:48 their capitals on 1.04.2019 were A Rs 12000credit and B1800(Dr).It was provided in the partnership deed that before distribution of profit. (1) interest on capitals of the partner were to be allowed at 5%p.a (2) interest on the total drawings was to be charged @4%p.a for six monthly an average . (3)A was to receive a salary of Rs 200per month. (4)Asumof Rs 2000 was to be transferred to reserve fund.?
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A and B were partners is a firm sharing profits and loss in the proportion of 112:48 their capitals on 1.04.2019 were A Rs 12000credit and B1800(Dr).It was provided in the partnership deed that before distribution of profit. (1) interest on capitals of the partner were to be allowed at 5%p.a (2) interest on the total drawings was to be charged @4%p.a for six monthly an average . (3)A was to receive a salary of Rs 200per month. (4)Asumof Rs 2000 was to be transferred to reserve fund.? for B Com 2024 is part of B Com preparation. The Question and answers have been prepared according to the B Com exam syllabus. Information about A and B were partners is a firm sharing profits and loss in the proportion of 112:48 their capitals on 1.04.2019 were A Rs 12000credit and B1800(Dr).It was provided in the partnership deed that before distribution of profit. (1) interest on capitals of the partner were to be allowed at 5%p.a (2) interest on the total drawings was to be charged @4%p.a for six monthly an average . (3)A was to receive a salary of Rs 200per month. (4)Asumof Rs 2000 was to be transferred to reserve fund.? covers all topics & solutions for B Com 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A and B were partners is a firm sharing profits and loss in the proportion of 112:48 their capitals on 1.04.2019 were A Rs 12000credit and B1800(Dr).It was provided in the partnership deed that before distribution of profit. (1) interest on capitals of the partner were to be allowed at 5%p.a (2) interest on the total drawings was to be charged @4%p.a for six monthly an average . (3)A was to receive a salary of Rs 200per month. (4)Asumof Rs 2000 was to be transferred to reserve fund.?.
A and B were partners is a firm sharing profits and loss in the proportion of 112:48 their capitals on 1.04.2019 were A Rs 12000credit and B1800(Dr).It was provided in the partnership deed that before distribution of profit. (1) interest on capitals of the partner were to be allowed at 5%p.a (2) interest on the total drawings was to be charged @4%p.a for six monthly an average . (3)A was to receive a salary of Rs 200per month. (4)Asumof Rs 2000 was to be transferred to reserve fund.? for B Com 2024 is part of B Com preparation. The Question and answers have been prepared according to the B Com exam syllabus. Information about A and B were partners is a firm sharing profits and loss in the proportion of 112:48 their capitals on 1.04.2019 were A Rs 12000credit and B1800(Dr).It was provided in the partnership deed that before distribution of profit. (1) interest on capitals of the partner were to be allowed at 5%p.a (2) interest on the total drawings was to be charged @4%p.a for six monthly an average . (3)A was to receive a salary of Rs 200per month. (4)Asumof Rs 2000 was to be transferred to reserve fund.? covers all topics & solutions for B Com 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A and B were partners is a firm sharing profits and loss in the proportion of 112:48 their capitals on 1.04.2019 were A Rs 12000credit and B1800(Dr).It was provided in the partnership deed that before distribution of profit. (1) interest on capitals of the partner were to be allowed at 5%p.a (2) interest on the total drawings was to be charged @4%p.a for six monthly an average . (3)A was to receive a salary of Rs 200per month. (4)Asumof Rs 2000 was to be transferred to reserve fund.?.
Solutions for A and B were partners is a firm sharing profits and loss in the proportion of 112:48 their capitals on 1.04.2019 were A Rs 12000credit and B1800(Dr).It was provided in the partnership deed that before distribution of profit. (1) interest on capitals of the partner were to be allowed at 5%p.a (2) interest on the total drawings was to be charged @4%p.a for six monthly an average . (3)A was to receive a salary of Rs 200per month. (4)Asumof Rs 2000 was to be transferred to reserve fund.? in English & in Hindi are available as part of our courses for B Com.
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Here you can find the meaning of A and B were partners is a firm sharing profits and loss in the proportion of 112:48 their capitals on 1.04.2019 were A Rs 12000credit and B1800(Dr).It was provided in the partnership deed that before distribution of profit. (1) interest on capitals of the partner were to be allowed at 5%p.a (2) interest on the total drawings was to be charged @4%p.a for six monthly an average . (3)A was to receive a salary of Rs 200per month. (4)Asumof Rs 2000 was to be transferred to reserve fund.? defined & explained in the simplest way possible. Besides giving the explanation of
A and B were partners is a firm sharing profits and loss in the proportion of 112:48 their capitals on 1.04.2019 were A Rs 12000credit and B1800(Dr).It was provided in the partnership deed that before distribution of profit. (1) interest on capitals of the partner were to be allowed at 5%p.a (2) interest on the total drawings was to be charged @4%p.a for six monthly an average . (3)A was to receive a salary of Rs 200per month. (4)Asumof Rs 2000 was to be transferred to reserve fund.?, a detailed solution for A and B were partners is a firm sharing profits and loss in the proportion of 112:48 their capitals on 1.04.2019 were A Rs 12000credit and B1800(Dr).It was provided in the partnership deed that before distribution of profit. (1) interest on capitals of the partner were to be allowed at 5%p.a (2) interest on the total drawings was to be charged @4%p.a for six monthly an average . (3)A was to receive a salary of Rs 200per month. (4)Asumof Rs 2000 was to be transferred to reserve fund.? has been provided alongside types of A and B were partners is a firm sharing profits and loss in the proportion of 112:48 their capitals on 1.04.2019 were A Rs 12000credit and B1800(Dr).It was provided in the partnership deed that before distribution of profit. (1) interest on capitals of the partner were to be allowed at 5%p.a (2) interest on the total drawings was to be charged @4%p.a for six monthly an average . (3)A was to receive a salary of Rs 200per month. (4)Asumof Rs 2000 was to be transferred to reserve fund.? theory, EduRev gives you an
ample number of questions to practice A and B were partners is a firm sharing profits and loss in the proportion of 112:48 their capitals on 1.04.2019 were A Rs 12000credit and B1800(Dr).It was provided in the partnership deed that before distribution of profit. (1) interest on capitals of the partner were to be allowed at 5%p.a (2) interest on the total drawings was to be charged @4%p.a for six monthly an average . (3)A was to receive a salary of Rs 200per month. (4)Asumof Rs 2000 was to be transferred to reserve fund.? tests, examples and also practice B Com tests.
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