Fixed Capital

Format of Partner's Capital Account

Dr.
Particulars
To Cash/Capital A/c (Withdrawal of Capital)
To Balance c/d

Amount
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Format of Partner's Current Account

Dr.
Particulars
To Balance b/d
(In case of debit opening balance)
To Drawings A/c
To Interest on Drawings A/c
To Profit and Loss A/c (Loss)
To Balance c/d (if credit side exceeds)

Amount
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Partner's Capital Account

Particulars
By Balance b/d
By Cash/Capital A/c (Additional Capital)

Cr.
Amount
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Partner's Current Account

Particulars
By Balance b/d
(In case of credit opening balance)
By interest on Capital
By Commission
By Salary
By General Reserve
By Goodwill
By Profit and Loss A/c (Profit)
By Balance c/d (if debit side exceeds)

Cr.
Amount
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Fluctuating Capital
Format of Partner's Capital Account
Dr.
Particulars
To Balance b/d
(In case of debit opening balance)
To Drawings A/C
To Interest on Drawings A/C
To Profit and Loss A/C (Loss)
To Balance c/d (if credit side exceeds)

Amount
.
.
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f Partner's Capital Account

Particulars
By Balance b/d
(In case of credit opening balance)
By interest on Capital
By Commission
By Salary
By General Reserve
By Goodwill
By Profit and Loss A/C (Profit)
By Balance c/d (if debit side exceeds)

Cr.
Amount
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.
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Format of P/L Appropriation A/C

Dr.
To
To

To

To

To
To

Particulars
Loss as per P/L A/C
Interest on Capital
A's Capital A/c
B's Capital A/c
Salaries
A's Capital A/c
B's Capital A/c
Commission
A's Capital A/c
B's Capital A/c
Reserve
Capital A/c (share of profit)
A's Capital A/c
B's Capital A/c

Amount

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.
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.

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of P/L Appropriation A/C

Particulars
By Profit as per P/L A/C
To Interest on Drawings
A's Capital A/c
B's Capital A/c
To Capital A/c (share of loss, if any)
A's Capital A/c
B's Capital A/c

Cr.
Amount

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Calculation of interest on Drawings

First of every month
Monthly Drawings
Total Months in a year
Total Annual Drawings
Months left after 1st withdrawal i.e. 1st January
Months left after last withdrawal i.e. 1st December
Average month
Rate per annum
Interest on Drawings (Monthly)

2,000
12
24,000
12
1
6.5
10%
1,300

Last of every month

Monthly Drawings
Total Months in a year
Total Annual Drawings
Months left after 1st withdrawal i.e. 31st January
Months left after last withdrawal i.e. 31st December
Average month
Rate per annum
Interest on Drawings (Monthly)

2,000
12
24,000
11
0
5.5
10%
1,100

First of every quarter

Quarterly Drawings
Total quarters in a year
Total Annual Drawings
Months left after 1st withdrawal i.e. 1st January
Months left after last withdrawal i.e. 1st October
Average month
Rate per annum
Interest on Drawings (Monthly)

2,000
4
8,000
12
3
7.5
10%
500

Last of every quarter

Quarterly Drawings
Total quarters in a year
Total Annual Drawings
Months left after 1st withdrawal i.e. 31st March
Months left after last withdrawal i.e. 31st December
Average month
Rate per annum
Interest on Drawings (Monthly)

2,000
4
8,000
9
0
4.5
10%
300

Middle of every month

Monthly Drawings
Total Months in a year
Total Annual Drawings
Months left after 1st withdrawal i.e. 15th January
Months left after last withdrawal i.e. 15th December
Average month
Rate per annum
Interest on Drawings (Monthly)

2,000
12
24,000
11.5
0.5
6
10%
1,200

Insert different amount to get the answer. You can change monthly
drawings, rate of interest etc to get the answer.

Middle of every quarter

Quarterly Drawings
Total quarters in a year
Total Annual Drawings
Months left after 1st withdrawal i.e. 15th February
Months left after last withdrawal i.e. 15th November
Average month
Rate per annum
Interest on Drawings (Monthly)

Insert different amount to get the answer. You can change monthly
drawings, rate of interest etc to get the answer.

2,000
4
8,000
10.5
1.5
6
10%
400

Format of Revaluation A/C

Dr.
Particulars
To decrease in value of asset
Plant
Machinery
Stock etc
To increase in value of liability
Creditors
Bills payable etc
To Capital A/c (in case of profit)
A's Capital A/c
B's Capital A/c

Amount

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mat of Revaluation A/C

Particulars
By increase in value of asset
Plant
Machinery
Stock etc
By decrease in value of liability
Creditors
Bills payable etc
By Capital A/c (in case of loss)
A's Capital A/c
B's Capital A/c

Cr.
Amount

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