Question

Iy:
Jull alu lile prohit-sharing ratio. Give necessary
The balances of Capital Accounts on 1st April, 2015 were: Roshan 8,00,000, Mahesh 75,00,000, Gopi
* 6,00,000 and Jai * 6,00,000.
After the accounts for the year ended 31st March, 2016 were prepared, it was discovered that interest
on capital @ 10% per annum as provided in the Partnership Deed had not been credited to the
Partners' Capital Accounts before the distribution of profits.
You are required to rectify the error by passing a single adjusting Journal entry.
(ISC 2017)
163 Roshan, Mahesh, Gopi and Jai are partners sharing profits and losses in the ratio of 3:3:2:2.​

Answer 1

Answer:

My guess is they' re all re-marking this position, and a lot of them have also taken material capital off the table