Retirement tell me fast
Solution
Working Notes
Average Profit = (12000 + 14000+10000)/3 = 120
R's share in Profit = 12000 ×3/9 = 4000
| Journal | ||||
| Date | Particulars | Debit Amount (Rs.) | Credit Amount (Rs.) | |
| Profit and Loss Appropriation A/c | Dr. | 4,000 | ||
| To R's Capital A/c | 4,000 | |||
| (Being R's share credited till his death) | ||||
Working Notes
Average Profit = (12000 + 14000+10000)/3 = 120
R's share in Profit = 12000 ×3/9 = 4000