Question

On 31st March, 2020, after the closing of the accounts, Capital Accounts of P, Q and R stood in the books
of the firm at 40,000; * 30,000 and * 20,000 respectively. Subsequently, it was noticed that interest on
capital @5% had been omitted. Profit for the year ended 31st March, 2020 was 60,000 and the partners'
drawings had been P-10,000, Q—*7,500 and R-4,500. Profit-sharing ratio of P, Q and Ris 3:2:1.
Pass necessary adjustment entry.
30.000. * 25.000 and​

Answer 1

Answer:

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Answer 2

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