Question

A,B and C were partners in a firm sharing profits and losses in the ratio of 4:3:3. their fixed capitals were 1,00,000 2,00,000 and 3,00,000 respectively. For the year 2020-21, interest on capital was credited to them @10% p.a. instead of 9%p.a. Which of the following entry in necessary to rectify the error?

(a) B's Capital A/c. Dr. 1400
To A's capital A/c. 200
To C's capital A/c. 1200
(b) A's capital A/c. Dr. 1400
To B's capital A/c. 200
To C's capital A/c. 1200
(c) B's Capital A/c. Dr. 1200
C's capital A/c. Dr. 200
To A's capital A/c. 1400
(d) B's Capital A/c. Dr. 200
C's capital A/c. Dr. 1200
To A's capital A/c. 1400​

Answer 1

option "d" is the correct option..

it can be solved by 2 ways, by direct it is done.

Answer 2

Explanation:

explanation of the above question