Question

A, B and C were partners in a firm sharing profits and losses in the ratio of
4:3:3. Their capitals were fixed at 1,00,000, 52,00,000 and 33,00,000 respectively. For the
year 1996, Interest on Capital was credited to them @ 10% instead of 9% p.a. Showing your
working notes clearly. Pass the necessary adjustment entry.
[CBSE 2001 Set I (Outside Delhi) and CBSE 2003 Set-II (Delhi)]

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Answer 1

Answer:

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