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Azad and Benny are equal partners. …

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Azad and Benny are equal partners. Their capitals are ₹ 40,000 and ₹ 80,000 respectively. After the accounts for the year have been prepared, it is discovered that interest @ 5% p.a. as provided in the partnership agreement has not been credited to the Capital Accounts before distribution of profits. It is decided t make an adjustment entry in the beginning of the next year. Record the necessary journal entry

Posted by Himanshu Kumar 3 years, 6 months ago

CBSE > Class 12 > Accountancy

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