Question

A B and C are partners sharing profit and losses in the ratio of 5 :3:1. after the final accounts have been prepared it was discovered that interest on drawing had not been taken into consideration the interest on drawings of partners amounted to Rs 8000 B Rs 6000 and C Rs 4000. Give the necessary adjusting journal entry ​

Answer 1

Answer:

profit and loss appro a/c Dr. 18000

to A's capital a/c 8000

to B's capital a/c 6000

to C's capital a/c 4000