Question

[Interest on fixed capitals wrongly provided)
A, B and Care partners in a firm. Though there is no provision in the partnership deed
for interest on capital, this had been provided in the accounts @ 10% p.a. for the two
years ended on 31st March 2020. Their fixed capitals on which interest was calculated
were throughout -A 25,000, B 20,000 and CP 15,000. Their profit sharing ratios
were: 2018-2019 -5:3:2; 2019-2020 –2:2:1. Give the necessary adjusting journal
entry.
​

Answer 1

Answer:

This is the answer

Mark as Branliest and follow me