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A , B ,C are partners …

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A , B ,C are partners sharing profits in the ratio of 2:2:1. Thier fixed capital were 400000, 250000, 100000 respectively. Net profit for the year ending 31 March, 2017 amounted to 220000 which was distributed without providing for the following: 1. Salary to B 5000 p.m. and to C 10000 per quarter. 2. Interest on capital @6% p.a. 3. Commission to manager @10% after charging such commission. Pass necessary rectifying entry.

Posted by Aryan Varshney 6 years, 7 months ago

CBSE > Class 12 > Accountancy

2 answers

Aryan Varshney 6 years, 7 months ago

Are bhai poora sol.bhejo

Shubham Sharma 6 years, 7 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 managers ' s commission 20 ,000

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