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12th Class Accountancy Fundamentals of Partnership Question Bank MCQs - Accounting for Partnership Firm : Fundamental

  • question_answer
    ‘A’ and ‘B’ were partners in a firm. They share profits in the ratio of 2:3.Their capital account balance as on 1st April, 2017 was Rs.10,00,000 and Rs.20,00,000. Additional capital introduced by them, A = Rs.3,00,000, B = Rs.2,00,000. Journalise it.

    A) Bank A/c                       Dr. 5,00,000        To A’s Capital A/c                           3,00,000        To B’s Capital A/c                           2,00,000

    B) A’s Capital A/c                    Dr. 3,00,000     B’s Capital A/c                    Dr. 2,00,000          To Bank A/c                                 5,00,000

    C) A’s Capital A/c                   Dr. 3,00,000            To Bank A/c                               3,30,000

    D) B’s Capital A/c                  Dr. 2,00,000           To Bank A/c                              2,00,000

    Correct Answer: A

    Solution :

    [a] Bank A/c                 Dr. 5,00,000 To A’s Capital A/c                                3,00,000 To B’s Capital A/c                                2,00,000


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