Question

06) Mannu and Shristhi are partners in a firm sharing profits in the ratio of 3:2.
Following is the balance sheet if the firm on 31" March, 2016
Liabilities
₹
Assets
₹
30,000
Drawings
Mannu's capital
Shristhi's capital
10,000
Mannu
24,000
Shristhi
32.000
6,000
Other assets
34.000
40.000
40,000
1
Profits for the year ended 314 March, 2016 was 35,000 which was divided
agreed ratio but interest on capital @ 5% p.a. and interest on drawing @ 6% p.a.
was inadvertently ignored.
Pass adjustment entry also show your working clearly.​

Answer 1

Explanation:

First of all the thing is that if this answer goes wrong I am not responsible because the question you have provided contains many errors and taking those errors I have tried to solve the sum so if it goes wrong you take a snapshot of the sum and post it here I will definitely help you..

The solution is provided below in attachment please see to it

Answer 2

Answer:

Explanation: first take old profit back by debit partner and credit firm then give interest on capital and drawing and finally balance amount which is profit or loss distribute in partner