A/c of
0.48. P, Q and R are partners sharing profits in the ratio of 2:1:1. Their capitals
as on 1st April, 2017 were 50,000, 30,000 and 20,000 respectively. At the end of
the year ending 31st March, 2018 it was found out that interest on capitals @ 12% p.a.,
salaries to P, 2500 per month and R 1,000 per month were not adjusted from the
wits Show adjusting entry to be made in the next year for above adjustments.
12 000 rocnectively:
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A/c of
0.48. P, Q and R are partners sharing profits in the ratio of 2:1:1. Their capitals
as on 1st April, 2017 were 50,000, 30,000 and 20,000 respectively. At the end of
the year ending 31st March, 2018 it was found out that interest on capitals @ 12% p.a.,
salaries to P, 2500 per month and R 1,000 per month were not adjusted from the
wits Show adjusting entry to be made in the next year for above adjustments.
12 000 rocnectively:
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