Question

Radhika, Vanshika, Sakshi are partners in a firm with capital ₹100000, ₹150000, ₹110000

respectively. They shared profit in the ratio of 3:4:2. At the end of the year, it was noticed that

the years profit ₹77400 was distributed among partners equally after providing interest on

capital @ 9% p.a. whereas deed provides for @ 8% p.a. Pass the adjusting entry to rectify the

error. ​

Answer 1

Answer:

details radhika vanshika sakshi firm

interest

taken (1000) (1500) (1100) 3600

profit (25,800) (25,800) (25,800) 77,400

actual 27,000 36,000 18,000 (81,000)

net effet 200 8700 (8900) nil

sakhshi's capital..... Dr.. 8900

to vanshika's capital 8700

to radhika's capital 200