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R&L were partners sharing profit and losses in 3:2 .They have capitals as on 31st March 2017 Rs 60,000 and Rs 40,000 respectively .They withdrew for personal use Rs 4000 and Rs 6000 .R is introducing capital into firm Rs 30,000 .P & L A/ c show a balance of Rs 90,000 on that date interest on capital is allowed to partners @ 10% pa as per deed appropriation .calculate interest on capital and pass journal entries.
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R&L were partners sharing profit and losses in 3:2 .They have capitals...
Assuming R introduced 30000 at the beg. the year.
Interest on cap A/c -Dr 13000
To R cap.A/c 9000
To L cap A/c 4000
(being int. on cap. is allowed to partners cap.)
ll) p&l appropriationA/C - Dr 13000
To int. on cap A/c 13000
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R&L were partners sharing profit and losses in 3:2 .They have capitals as on 31st March 2017 Rs 60,000 and Rs 40,000 respectively .They withdrew for personal use Rs 4000 and Rs 6000 .R is introducing capital into firm Rs 30,000 .P & L A/ c show a balance of Rs 90,000 on that date interest on capital is allowed to partners @ 10% pa as per deed appropriation .calculate interest on capital and pass journal entries.
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R&L were partners sharing profit and losses in 3:2 .They have capitals as on 31st March 2017 Rs 60,000 and Rs 40,000 respectively .They withdrew for personal use Rs 4000 and Rs 6000 .R is introducing capital into firm Rs 30,000 .P & L A/ c show a balance of Rs 90,000 on that date interest on capital is allowed to partners @ 10% pa as per deed appropriation .calculate interest on capital and pass journal entries. for Class 12 2024 is part of Class 12 preparation. The Question and answers have been prepared according to the Class 12 exam syllabus. Information about R&L were partners sharing profit and losses in 3:2 .They have capitals as on 31st March 2017 Rs 60,000 and Rs 40,000 respectively .They withdrew for personal use Rs 4000 and Rs 6000 .R is introducing capital into firm Rs 30,000 .P & L A/ c show a balance of Rs 90,000 on that date interest on capital is allowed to partners @ 10% pa as per deed appropriation .calculate interest on capital and pass journal entries. covers all topics & solutions for Class 12 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for R&L were partners sharing profit and losses in 3:2 .They have capitals as on 31st March 2017 Rs 60,000 and Rs 40,000 respectively .They withdrew for personal use Rs 4000 and Rs 6000 .R is introducing capital into firm Rs 30,000 .P & L A/ c show a balance of Rs 90,000 on that date interest on capital is allowed to partners @ 10% pa as per deed appropriation .calculate interest on capital and pass journal entries..
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