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A B and C are partner …

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A B and C are partner in a firm.Their capitals on 1st Jan. 2015 were ₹20000,₹30000 and ₹40000 respectively. after closing the account of 31st Dec.,2015 it was found that according to partnership deed interest @ 10% p.a. on a partners capital a salary of ₹500 p.m. to B and a salary of ₹4000 p.a. to C was not provided before distribution of profit. It was agreed among the partners to make adjustment entry at the beginning of next year rather than to alter the balance sheet pass the necessary journal entry assuming that capital are fixed?

Posted by Avinash Kumar 6 years, 8 months ago

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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CBSE > Class 12 > Accountancy

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