To drawings | 100000 | 125000 | By Balance b/d | 200000 | 150000 |
To interest on drawings | 10000 | 12500 | By Interest on capital | 24000 | 18000 |
By Salary | 60000 | 90000 | |||
By Commission | 17500 | Nil | |||
By profits | 124350 | 99,350 | |||
To balance c/d | 315850 | 219850 |
To interest on Capital X= 2,00,000*12% = 24,000 Y= 1,50,000*12% = 18,000 | 42000 | By net profit | 4,61,000 |
X's salary = 5,000*12 = 60,000 Y's salary = 22,500*4 = 90,000 | 150000 | By interest on drawings X=1,00,000*10% = 10,000 Y = 1,25,000*10% = 12,500 | |
X's Commission (3,50,000*5%) | 17,500 | ||
To General reserve (Notes) | 50,300 | ||
Share of profits Up to 1,75,000 X = 1,00,000 Y=75,000 Remaining 48,700 X= 24,350 Y=24,350 | |||
Total | 4,85,500 | Total | 4,83,500 |