Question

39. A and B are partners in a firm sharing profits and lonaca in the ratio of 3.2. Their
capital accounts as on 31st December 2014 showed balances of 7 56,000 and 1 48,000
respectively after taking into account the profita of the year 2014 which amounted to
30,000 and dealing with drawings, A6,000 and BP 4,000. Subsequently the following
omissions were noticed after preparing the final accounts for the year 2014
The partnera were entitled to intercat on capitals @ 12% pa.
(1) Interest on drawings was to be charged @ 12% p.a. The interest is to be charged
for 6 months period.
(3) A was entitled to a salary of 4,000 and B, a commission of 2.500 for the year.
It was decided to carry out the necessary adjustments to record the above omissions.
Pass the necessary journal entries and prepare profit and loss adjustment account
and partners' capital accounts.

Answer 1

Answer:

sjkskksks mwkqdjejdk