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A,B and C are partners sharing …

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A,B and C are partners sharing profits in the ratio of 2:2:1 .Their fixed capitals were Rs.400000, Rs.250000 and Rs.100000 respectively. Net profit for the Year ending 31st March, 2017 amounted to Rs.220000 which was distributed without providing for the following: 1. Salary to B Rs. 60000 and to C Rs.10000 per quarter. 2. Interest on capital @ 6% p.a. 3. Commission to Manager @ 10% after charging such commission . Pass rectifying entery.

Posted by Ketan Yadav 6 years, 7 months ago

CBSE > Class 12 > Accountancy

1 answers

Shubham Sharma 6 years, 6 months ago

A' s current A/C Dr. 42,000 To B 's current A/C 9,000 To C' s current A/C. 13,000 To manager ' s commission outstanding A/c 20,000

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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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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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CBSE > Class 12 > Accountancy

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