Question

(0) Aditi 36,000 X,Y and Z are partners sharing profits in the ratio of 2:1:1. Their capitals as on 1st April, 2020 were 31,00,000, 560,000 and 340,000 respectively. At the end of the year ending 31st March, 2021 it was found out that the interest on capital @6% p.a., salaries to X, 1,000 per month and Z 52,000 per month were not adjusted from the profits. In the adjusting entry to be made in the next year (a) Dr.X *6,000; Dr.Y 8,400 and Cr.Z 14,400. (b) Cr.X 36,000; Cr.Y 18,400 and Dr.Z 14,400. (c) Dr.X *500; Dr.Y *150 and Cr.Z *650. (d) Cr.X *500; Cr.Y *150 and Dr.Z *650.​

Answer 1

Answer:

a Dr 6000,Dr 8400,Cr 14400