Question

A, B and C are partners sharing profits and losses in the ratio of 4: 3:3. On 1st April, 2014 their capitals were
30,000, 45,000 and 60,000 respectively. After the final accounts have been prepared, it was found that interest
on capital @ 6% p.a. was omitted. Give the necessary adjusting Journal entry.
[Ans. A to be debited by * 1,440, B to be credited by 270 and C to be credited by * 1,170]​

Answer 1

Answer:

B'S A/C                     DR. 1170

C'S A/C                     DR.   270

     TO A'S A/C                            1170

Explanation:

PARTICULARS                              A                 B                 C

ADD:  IOC @ 6% P.A.                 1800             2700        3600

LESS: TOTAL IOC AS               -(3240 )          -(2430)      -(2430)

          LOSS i.e. IN

          THE RATIO

          4:3:3

TOTAL                                      -1140(CR.)    270(DR.)      1170(DR.)

BY THE WAY YOUR MENTIONED ANSWER IS WRONG....