Question

Do it Yourself
1. Gupta and Sarin are partners in a firm sharing profits in the ratio of 3:2. Their
fixed capitals are: Gupta 2,00,000, and Sarin 3,00,000. After the accounts for the
year are prepared it is discovered that interest on capital @10% p.a. as provided in
the partnership agreement, has not been credited in the capital accounts of partners
before distribution of profits. Record adjustment entry to rectify the error.​

Answer 1

Answer:

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