Question

X,Y and Z are partners sharing profits and losses in the ratio of 3:2:1. After the final accounts

have been prepared, it was discovered that interest on drawings had not been taken into

consideration. the interest on drawings of partners amounted to Rs. 250; Rs. 180 and Rs. 100

respectively. Give necessary adjusting Journal Entry.​

Answer 1

Answer:

Y's capital a/c dr. 3

Z's capital a/c dr. 12

To X's capital a/c. 15