15. On 1st April 2019 , the balances in the Capital Accounts of A,B and C were Rs 1,64,000,
Rs 1,34,000 and Rs 1,18,000 respectively. Subsequently it was discovered that the interest
on capital and drawings had been omitted.
During the year, A and B each withdrew a total sum of Rs 24,000 in equal installments
in the beginning of each month and C withdrew a total sum of Rs 48,000 in equal
instalments at the end of each month.
The interest on drawings was to be charged @ 5% p.a. and interest on Capital was to
be allowed @10% p.a.
The profit sharing ration among the partners was 2:1:1. Showing your working notes
clearly, pass the necessary rectifying entry.
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instalments at the end of each month.
The interest on drawings was to be charged @ 5% p.a. and interest on Capital was to
be allowed @10% p.a.
The profit sharing ration among the partners
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Mujhe nhi aata it higher level
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