Answer:
Statement showing the Amount of Capital as on 31st March, 2018
Balance Sheet as at 31st March, 2018 Particulars Sagar (Rs.) Mayank (Rs.) Rohit (Rs.) Capital Balance as on 1st April, 2016 2,00,000 1,60,000 1,20,000 (+) Interest on Capital 20,000 16,000 12,000 (+) Profit (98,000- 48,000) 20,000 15,000 15,000 2,40,000 1,91,000 1,47,000 (-) Drawings (20,000) (20,000) (20,000) Capital Balance as on 1st April, 2017 2,20,000 1,71,000 1,27,000 (+) Interest on Capital 22,000 17,100 12,700 (+) Profit 48,000 36,000 36,000 2,90,000 2,24,100 1,75,700 (-) Drawings (20,000) (20,000) (20,000) Capital Balance as on 31st March, 2018 2,70,000 2,04,100 1,55,700
DrRealisation AccountCr Liabilities Amt (Rs.) Assets (Amt (Rs.) Capital Sundry Assets 6,50,000 Sagar 2,70,000 (Balancing figure) Mayank 2,04,100 Rohit 1,55,700 6,29,800 Creditors 20,200 6,50,000 6,50,000
Particulars Amt (Rs.) Particulars Amt (Rs.) To Sundry Assets 6,50,000 By Sundry Liabilities 20,200 To Cash - Creditors 20,200 By Cash (Assets realized) 4,20,000 To Cash ? Expenses 5,000 By Loss Transferred to Capital A/c Sagar 94,000 Mayank 70,500 Rohit 70,500 2,35,000 6,75,200 6,75,200
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