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Anita and Ankita partners sharing profits …

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Anita and Ankita partners sharing profits equally their capital mentioned following fluctuating capital account method as on 31st March 2019 were 500000 and 400000respectively partnership deed provided to allow interest on capital 10% per annum. the farm earned net profit of rupees 200000 for the year ended 31st March 2020.Pass the journal entry for interest on capital.

Posted by Ritik Dhariwal 5 years, 3 months ago

CBSE > Class 12 > Accountancy

1 answers

Kunal Thakur 5 years, 3 months ago

Profit and Loss Appropriation A/c Dr- Rs.90,000; To Anita's Capital A/c Rs.50,000 TO Ankita's Capital A/c by Rs.40,000.

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CBSE > Class 12 > Accountancy

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CBSE > Class 12 > Accountancy

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