Question

X, Y and Z were three partners sharing profits in the ratio of 3:2:1. At the end of the year, they
distributed the profits equally. The profit for the year was 1,20,000. Pass the adjustment entry to
rectify the error.


Please give correct answer.​

Answer 1

Answer:

X'SCAPITALA/C.......DR 20000

TO Z'CAPITALA/C 20000