On 31st March, 2005, after the closing of books of accounts, the Capital Accounts of A, B and C stood at Rs. 24,000; Rs. 20,000 and Rs. 12,000 respectively. The profit for the year Rs. 36,000 was distributed equally. Subsequently, it was discovered that interest on capital @ 5% p.a. had been omitted. The profit- sharing ratio was 2 : 2 : 1. Pass an adjustment Journal entry.
Answers
Answered by
0
Answer:
please mark me down as a brain liest
Explanation:
Revaluation A/c Dr To creditors A/c by 28,000
Revaluation A/c Dr To creditors
Similar questions