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Mita and usha are partners in …

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Mita and usha are partners in a firm sharing profits in the ratio of 2:3. Their capital account as on 1st April ,2015 showed balance of rs 1,40,000 & 1,20,000 respectively. The drawings of mita and usha during the year 2015-16 were 32000 and rs 24000 respectively .Both the amounts were withdrawn on 1st January ,2016. It was subsequently found that the 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. Interrst on drawings @6%p.a. c. Mita was entitled to a commission of rs 8000 for the whole year . Showing your working clearly ,pass a rectifying entry in the books of the firm.

Posted by Ritika Pandey 1 year, 1 month ago

CBSE > Class 12 > Accountancy

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CBSE > Class 12 > Accountancy

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Posted by Srishti Arya 1 year, 2 months ago

CBSE > Class 12 > Accountancy

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Posted by Munni Lal 1 year, 5 months ago

CBSE > Class 12 > Accountancy

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Posted by Mahi . 1 year, 4 months ago

CBSE > Class 12 > Accountancy

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CBSE > Class 12 > Accountancy

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Posted by Palak Kumari 3 months, 2 weeks ago

CBSE > Class 12 > Accountancy

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