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Mita and usha are partners in …

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Mita and usha are partners in a firm with profit ratio 2:3. Their capital as on 1st april,2015 showed balance of 1,40,000/- and 1,20,000 respectively. The drawings of mita and usha were 32,000/- and 24,000/-. Both the amounts were withdrawn on 1st jan 2016. It was found that following items had been omitted while preparing the final accounts for the year ended 31st March,2016: (a) Interest on capital @ 6% p.a. (b) Interest on drawing @ 6% p.a. (c) mita was entitled with commission of 8000/- for the whole year. Pass rectifying entry in the books of the firm.

Posted by Harshit Kaur 4 years, 7 months ago

CBSE > Class 12 > Accountancy

2 answers

Nutan Gupta 5 years, 4 months ago

Mita a/c Dr. 6186 to usha a/c. 6186

Anusha Goyal 5 years, 5 months ago

6816

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