Q.23 Neena and Sara were partners in a firm with fixed capitals of 5,00,000 and 4,00,000 respectively. It was discovered that interest on capital @ 6% p. a. was credited to the partners for the year ending 31st March, 2021 whereas there was no such provision in the partnership deed. Their profit sharing ratio during was 5:1. The adjustment entry to rectify the error will be: (a) Debit Neena's Capital A/c 59,000 and Credit Sara's Capital A/c 39,000 (b) Debit Neena's Current A/c 39,000 and Credit Current A/c 19,000 (c) Debit Sara's Capital A/c 15,000 and Credit Neena's Capital A/c 15,000 (d) Debit Sara's Current A/c 15,000 and Credit Neena's Current A/c 15,000
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c) Debit sara's capital A/C 15000 and credit Neen's capital A/C 15000
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