CA Foundation Exam > CA Foundation Questions > Pg 8.26 in volume 2 of accounts 3 rd question...
Start Learning for Free
Pg 8.26 in volume 2 of accounts 3 rd question Can anyone tell me how they find out the capital amount of X ,y?
Most Upvoted Answer
Pg 8.26 in volume 2 of accounts 3 rd question Can anyone tell me how t...
Finding Capital Amount of X and Y
Introduction
In the given question, we need to find out the capital amount of X and Y. The information given in the question is as follows:
- X and Y are partners in a business.
- The profit-sharing ratio between X and Y is 3:2.
- The balance sheet of the business shows a total capital of Rs. 1,50,000.
Calculation
To find out the capital amount of X and Y, we need to follow the below steps:
Step 1: Find the total of the profit-sharing ratio.
Profit-sharing ratio of X and Y = 3:2
Total of profit-sharing ratio = 3+2 = 5
Step 2: Calculate the share of each partner in the total capital.
Share of X = (3/5) x 1,50,000 = Rs. 90,000
Share of Y = (2/5) x 1,50,000 = Rs. 60,000
Therefore, the capital amount of X is Rs. 90,000 and the capital amount of Y is Rs. 60,000.
Conclusion
In conclusion, to find out the capital amount of X and Y, we need to calculate their share in the total capital based on their profit-sharing ratio.
Introduction
In the given question, we need to find out the capital amount of X and Y. The information given in the question is as follows:
- X and Y are partners in a business.
- The profit-sharing ratio between X and Y is 3:2.
- The balance sheet of the business shows a total capital of Rs. 1,50,000.
Calculation
To find out the capital amount of X and Y, we need to follow the below steps:
Step 1: Find the total of the profit-sharing ratio.
Profit-sharing ratio of X and Y = 3:2
Total of profit-sharing ratio = 3+2 = 5
Step 2: Calculate the share of each partner in the total capital.
Share of X = (3/5) x 1,50,000 = Rs. 90,000
Share of Y = (2/5) x 1,50,000 = Rs. 60,000
Therefore, the capital amount of X is Rs. 90,000 and the capital amount of Y is Rs. 60,000.
Conclusion
In conclusion, to find out the capital amount of X and Y, we need to calculate their share in the total capital based on their profit-sharing ratio.
Attention CA Foundation Students!
To make sure you are not studying endlessly, EduRev has designed CA Foundation study material, with Structured Courses, Videos, & Test Series. Plus get personalized analysis, doubt solving and improvement plans to achieve a great score in CA Foundation.
|
Explore Courses for CA Foundation exam
|
|
Top Courses for CA FoundationView all
Pg 8.26 in volume 2 of accounts 3 rd question Can anyone tell me how they find out the capital amount of X ,y?
Question Description
Pg 8.26 in volume 2 of accounts 3 rd question Can anyone tell me how they find out the capital amount of X ,y? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about Pg 8.26 in volume 2 of accounts 3 rd question Can anyone tell me how they find out the capital amount of X ,y? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Pg 8.26 in volume 2 of accounts 3 rd question Can anyone tell me how they find out the capital amount of X ,y?.
Pg 8.26 in volume 2 of accounts 3 rd question Can anyone tell me how they find out the capital amount of X ,y? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about Pg 8.26 in volume 2 of accounts 3 rd question Can anyone tell me how they find out the capital amount of X ,y? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Pg 8.26 in volume 2 of accounts 3 rd question Can anyone tell me how they find out the capital amount of X ,y?.
Solutions for Pg 8.26 in volume 2 of accounts 3 rd question Can anyone tell me how they find out the capital amount of X ,y? in English & in Hindi are available as part of our courses for CA Foundation.
Download more important topics, notes, lectures and mock test series for CA Foundation Exam by signing up for free.
Here you can find the meaning of Pg 8.26 in volume 2 of accounts 3 rd question Can anyone tell me how they find out the capital amount of X ,y? defined & explained in the simplest way possible. Besides giving the explanation of
Pg 8.26 in volume 2 of accounts 3 rd question Can anyone tell me how they find out the capital amount of X ,y?, a detailed solution for Pg 8.26 in volume 2 of accounts 3 rd question Can anyone tell me how they find out the capital amount of X ,y? has been provided alongside types of Pg 8.26 in volume 2 of accounts 3 rd question Can anyone tell me how they find out the capital amount of X ,y? theory, EduRev gives you an
ample number of questions to practice Pg 8.26 in volume 2 of accounts 3 rd question Can anyone tell me how they find out the capital amount of X ,y? tests, examples and also practice CA Foundation tests.
|
|
Explore Courses for CA Foundation exam
|
|
Suggested Free Tests
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
|
© EduRev
|
Education Revolution
|
|
Signup to see your scores
go up within 7 days!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup