Rand Swere partners in a firm sharing profits in 3 : 2 ratio. Their respective fixed capitals were Rs. 10,00,000 and Rs. 15,00,000. The partnership deed provided the following:(i) Interest on capital @ 10% p.a.(ii)Interest on drawing @ 12% p.a.During the year ended 31-3-2016, R’sdrawings were Rs. 10,000 per month drawn at the end of every month and S’sdrawings were Rs.20,000 per month drawn in the beginning of the every month. After the preparation of final accounts for the year ended 31-3-2016 it was discovered that interest on R’sdrawings was not taken into consideration.Calculate interest on R’sdrawings and give necessary adjusting entry for the same.
Answers
Answered by
0
Answer:
Explanation:
The 10% limitation to precisely the Same extent that na- French and Belgians, on the ... a small rate of interest—the latpayment according to the riches of the Allies. ... Clearing House banks and trust companies was featured by smaller deposits ... to the financial capitals of the world is the debt, not including inte:allied debts, ...
Similar questions