Question

A, B and C are partners in a firm having fixed capitals of ₹ 80,000; ₹ 40,000 and ₹ 50,000 respectively sharing profits as 7:6:4. The rate of interest on capital was agreed at 10% p.a. but was wrongly credited to them at 12% p.a. Pass ne

Answer 1

Answer:

"ne" (and any subsequent words) was ignored because we limit queries to 32 words.

Explanation:

A, B and C are partners in a firm having fixed capital of Rs 80,000, Rs 40,000 and Rs 50,000 respectively sharing profits as 7 : 6 : 4 The rate of interest ...

The adjusting entry for the same is as follows: Journal Date Particulars L F Debit Amount ...