Question

65. A.B and C were partners. Their fixed capitals were 60,000, 7 40,000 and 20,000 respectively. Their profit
sharing ratio was 2:2:1. According to the Partnership Deed, they were entitled to interest on capital @ 5% pa
In addition, B was also entitled to draw a salary of 1,500 per month.C was entitled to a commission of 5*
on the profits after charging the interest on capital, but before charging the salary payable to B. The ne
profits for the year, 780,000, were distributed in the ratio of their capitals without providing for any of the
above adjustments. Showing your workings clearly, pass the necessary adjustment entry
(CBSE 2014​

Answer 1

Answer:

x+x+2=20

2x=18

x=9

x+2 = 9+2=11

verification

x+x+2=20

9+9+2=20

20=20

Explanation: