Scribd Logo
Upload

Welcome to Scribd!

  • Working Notes 51 XII Accountancy (1) Partnership Fundamentals Q 51 Year 2022-23

    Uploaded by

    Vivek kumar
    6 views1 page
    Ali had capital of Rs 25,000 earning 5% interest of Rs 1,250. Bahadur had Rs 20,000 capital earning 5% interest of Rs 1,000. Total interest was Rs 2,250. Profit after salaries and interest was Rs 34,750. 10% of profit went to general reserve of Rs 3,475. Remaining profit of Rs 31,275 was divided 70% to Ali of Rs 21,892 and 30% to Bahadur of Rs 9,383.

    Original Description:

    Original Title

    1. Working Notes 51 XII Accountancy (1) Partnership Fundamentals Q 51 Year 2022-23

    Copyright

    © © All Rights Reserved

    Available Formats

    PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    Report this Document
    Ali had capital of Rs 25,000 earning 5% interest of Rs 1,250. Bahadur had Rs 20,000 capital earning 5% interest of Rs 1,000. Total interest was Rs 2,250. Profit after salaries and interest was Rs 34,750. 10% of profit went to general reserve of Rs 3,475. Remaining profit of Rs 31,275 was divided 70% to Ali of Rs 21,892 and 30% to Bahadur of Rs 9,383.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    6 views1 page

    Working Notes 51 XII Accountancy (1) Partnership Fundamentals Q 51 Year 2022-23

    Uploaded by

    Vivek kumar
    Ali had capital of Rs 25,000 earning 5% interest of Rs 1,250. Bahadur had Rs 20,000 capital earning 5% interest of Rs 1,000. Total interest was Rs 2,250. Profit after salaries and interest was Rs 34,750. 10% of profit went to general reserve of Rs 3,475. Remaining profit of Rs 31,275 was divided 70% to Ali of Rs 21,892 and 30% to Bahadur of Rs 9,383.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 1

    57.

    Working Notes

    (i) Interest on Capital


    5
    Ali: X 25000 = Rs 1250
    100
    5
    Bahadur: X 20000 = Rs 1000
    100
    Total interest = 1250 + 1000 = Rs 2250

    (ii) Profit remaining after salary and interest on capital

    = 40000 ( 2250 + 3000 )


    = 40000 5250
    = Rs 34750

    (iii) Geneal Reserve


    10
    = X 34750 = Rs 3475
    100

    (iv) Division of profit

    70 % and 30 % = 7 : 3

    7
    Ali: X 31275 = Rs 21892
    10
    3
    Bahadur: X 31275 = Rs 9383
    10

    You might also like