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Kavita, meenakshi and gauri are partners …

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Kavita, meenakshi and gauri are partners doing a paper business in ludhiana. After the accounts of partnership have been drawn up and closed, it was discovered that for the years ending 31st march, 2013 and 2014 . Interest on capital has been allowed to partners @ 6% p. a. although there is no provision for interest on capital in the partnership deed. Their fixed capitals were rs 200000,160000 and 120000 respectively. During the last two years they had shared the profits as under Year. Ratio 31st march 2013. 3:2:1 31st march 2014. 5:3:2 You are required to give necessary adjustments entry for interest on capital on april 1,2014

Posted by Gouri Goyal 6 years, 11 months ago

CBSE > Class 12 > Accountancy

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Yash Soalnki 6 years, 11 months ago

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CBSE > Class 12 > Accountancy

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CBSE > Class 12 > Accountancy

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CBSE > Class 12 > Accountancy

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CBSE > Class 12 > Accountancy

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