Question

P, Q and R are partners in a firm sharing profits and losses in the ratio 3:1:1. It was

later on found that interest on drawing was not taken into account. Interest on

Drawings was: P- ` 4000, Q - ` 3000 and R - ` 2000.

Pass necessary adjustment entry. Accountancy class 12​

Answer 1

Answer:

P's capital account. dr. 4000

Q's capital account. dr. 3000

R's capital account. dr. 2000

To interest on drawing. 9000