Please help me with this question fast as possible - Accountancy - Accounting for Partnership Basic Concepts

Question

Please help me with this question fast as possible

Ishi · Accepted Answer

Dear Student
Profit & Loss Appropriation A/c

Particulars
Amount
Particulars
Amount

To Net Loss
1100000
By Loss T/f to

To Koya's Capital A/c
100000
Maya = 720000

Saya= 480000
1200000

Journal entry

Date
Particulars
Amount (Dr)
Amount (Cr)

Maya's capital A/c Dr
120000

Saya's capital A/c Dr
80000

To Koya's capital A/c

200000

(guaranteed profit share given to Koya by Maya and Saya )

Working Notes
Calculation of loss
Maya's share = 1100000 x 6/11 =600000
Saya's share = 1100000 x 4/11 = 400000
Koya's share = 1100000 x 1/11 = 100000
Koya's guaranteed of minimum profit of Rs 100000 Her deficiency
shall be borne by Maya & Saya in their profit ratio i e 6:4
Deficiency of Koya = 100000 of loss + 100000 of profit =200000
Maya's share in deficiency = 200000 x 6/10 = 120000 Total loss of
Maya is 600000+120000 =720000
Saya's share in deficiency = 200000 x 4/10 = 80000 Total loss of
Saya is 400000 +80000 =480000

Regards

Particulars	Amount	Particulars	Amount
To Net Loss	1100000	By Loss T/f to
To Koya's Capital A/c	100000	Maya = 720000
		Saya= 480000	1200000

Date	Particulars	Amount (Dr)	Amount (Cr)
	Maya's capital A/c Dr	120000
	Saya's capital A/c Dr	80000
	To Koya's capital A/c		200000
	(guaranteed profit share given to Koya by Maya and Saya )