Question

59. Azad and Benny are equal partners. Their capitals are 40,000 and 80,000 respectively. After the ac
for the year had been prepared, it was noticed that interest @ 5% p.a. as provided in the Partnershi
was not credited to their Capital Accounts before distribution of profits. It is decided to pass an adju
entry in the beginning of the next year. Record the necessary Journal entry.​

Answer 1

Answer:

asset inventory equal parents their capitals are four 40800 after the AC the year had been prepared it was noticed that interest 5% p.a. provide in the partners what not created to a capital account before this tribulation of profiles it is decided to pass and add new entry in the beginning of the next year record is necessary general ledger entry is 2021