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The partners of a firm distributed …

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The partners of a firm distributed the profits for the year ending 31st march 2003 rs 1 40 000 in the ratio 2:2:1 without providing for the following adjustments : 1. A and B were entitled to a salary of rs.1500 per quarter 2. C was entitled to a commission of rs. 8000 3. A and C had guaranteed a minimum profit of rs. 50 000 p.a to B 4.profits were to be shared in the ratio of 3:3:2 Pass necessary journal entry for the above adjustments in the books of the firm

Posted by Vasundhara Garg 6 years, 10 months ago

CBSE > Class 12 > Accountancy

2 answers

Megha Pandey 3 years, 5 months ago

A's capital a/ c. Dr. 8000 C's capital a/c. 8000

Pawan Sharma 3 years, 5 months ago

A capital a\c Dr

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