Net loss of the firm as per profit and loss account for the year ending March 31, 2024 amounted to Rs. 75,000. Yaduvanshi, Madhulika and Vidushi are…
CUET UG 2025 — Accountancy Partnership
Net loss of the firm as per profit and loss account for the year ending March 31, 2024 amounted to Rs. 75,000. Yaduvanshi, Madhulika and Vidushi are partners, sharing profits and losses in the ratio of 2:2:1. Their fixed capitals on April 01, 2019 were: Yaduvanshi Rs. 5,00,000, Madhulika Rs. 4,00,000 and Vidushi Rs. 3,50,000. On the basis of the above information, pass the necessary journal entry
Held on 15 May 2025 · Verified 13 Jul 2026.
Options
- A
Yaduvanshi capital A/c Dr. 30,000
Madhulika capital A/c Dr. 30,000
Vidushi capital A/c Dr. 15,000
To profit & loss appropriation A/c 75,000 - B
Yaduvanshi current A/c Dr. 30,000
Madhulika current A/c Dr. 30,000
Vidushi current A/c Dr. 15,000
To profit & loss appropriation A/c 75,000 - C
Profit & loss appropriation A/c Dr. 75,000
To Yaduvanshi capital A/c 30,000
To Madhulika capital A/c 30,000
To Vidushi capital A/c 15,000 - D
Profit & loss appropriation A/c Dr. 75,000
To Yaduvanshi current A/c 30,000
To Madhulika current A/c 30,000
To Vidushi current A/c 15,000
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