The capital of a,b and c as on 31st march 2018, amounting to 90,000 ,330000 and 660000 respectively. the profits amounting 180000 for the year 2017-18 were distributed in the ratio of 4:1:1 after allowing interest on capital @ 10% p.a. during the year, each partner withdrew 360000. the deed was silent as to profit sharing ratio but provided for interest on capital @12% . pass necessary adjustment entry.The capital of a,b and c as on 31st march 2018, amounting to 90,000 ,330000 and 660000 respectively. the profits amounting 180000 for the year 2017-18 were distributed in the ratio of 4:1:1 after allowing interest on capital @ 10% p.a. during the year, each partner withdrew 360000. the deed was silent as to profit sharing ratio but provided for interest on capital @12% . pass necessary adjustment entry.
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the capital of a,b and c as on 31st march 2018, amounting to 90,000 ,330000 and 660000 respectively. the profits amounting 180000 for the year 2017-18 were distributed in the ratio of 4:1:1 after allowing interest on capital @ 10% p.a. during the year, each partner withdrew 360000. the deed was silent as to profit sharing ratio but provided for interest on capital
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