Question

कायात
वश्यक समायाजन राजनामचा प्रवाष्टदाजए। !
Ramesh, Suresh and Tomar are partners in a firm. They have omitted interest on capital @ 10% p.a. for three
years ended 31st March, 2018. Their fixed capitals on which interest was to be calculated throughout were:
Ramesh 1,00,000; Suresh 80,000; Tomar 70,000.
Give the necessary adjusting Journal entry with working notes.
Ans. Ramesh 5,000 (Cr), Suresh 1,000 (Dr.) Tomar 4,000 (Dr.).]​

Answer 1

Answer:

details ramesh suresh tomar firm

interest

on capital 30,000 24,000 21,000 (75, 000)

peofit/loss (25,000) (25,000) (25,000) 75,000

net effect 5000 (1000) (4000) nil

suresh's capital account ..... dr. 1000

Tomar's capital account..... dr. 4000

to ramesh's capital account 5000