Question

Ram Shyam and Mohan are partners in a firm sharing profits and losses in the ratio of 2:1:2.

Their fixed capitals were Rs.3,00,000 ; 1,00,000 and 2,00,000 respectively. Interest on capital

for the year ended 31st March 2019 was credited to them @ 9% per annum instead of 10%

per annum, the profit for the year before charging interest was Rs.2,50,000. Pass necessary

adjustment entry​

Answer 1

Answer:

i think answer 2,500

Explanation:

hope it helps u

Answer 2

Ram gets 3000 plus his share of profit

Shyam gets 1000 plus his share of profit

Mohan gets 2000 plus his share of profit

Explanation:

the above figures are the 1% that the three of them didn't get. After that less 60000i.e their interest on capital from 250000 and then distribute the remaiming in the profit sharing ratio