Question

0:47. Anil, Sunil and Sanjay have omitted interest on Capitals for two years
anded on 31st March, 2015. Their fixed capitals in two years were Anil 8,00,000,
Sunil 27,00,000 and Sanjay *3,00,000. Rate of interest on Capital is 10% p.a. Their
polit Sharing ratios were in first year 4 :3 : 2 and in second year 3 : 2:1.
Give necessary adjusting entry at the beginning of next year.
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Answer 1

0:47. Anil, Sunil and Sanjay have omitted interest on Capitals for two years

anded on 31st March, 2015. Their fixed capitals in two years were Anil 8,00,000,

Sunil 27,00,000 and Sanjay *3,00,000. Rate of interest on Capital is 10% p.a. Their

polit Sharing ratios were in first year 4 :3 : 2 and in second year 3 : 2:1.

Give necessary adjusting entry at the beginning of next year.

.