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ABC are partners sharing profit and …

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ABC are partners sharing profit and losses in the ratio of 3 :2: 1 after the distribution of profit it was found that outstanding expense of rupees 6000 and prepaid expense not recorded at all ans A also given a loan to the form of rupees 100000 on which the intrest were not provided .pass the journal rectified entries?

Posted by Rahul Gupta 6 years, 9 months ago

CBSE > Class 12 > Accountancy

3 answers

Rahul Gupta 6 years, 9 months ago

Prepaid amount is rupess 6000

Ishi Joshi 6 years, 9 months ago

What is the amt of prepaid expenses it's not mention in the question given above

Anshul Agrawal 6 years, 9 months ago

6000 o/s expenses 6000 int on loan Total 12000 Dr to P&L a/c because this are charge against profit And same deducted from partners capital as their PSR

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