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Hari ram and Mohan are partners …

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Hari ram and Mohan are partners in a firm sharing in the ratio of 2:2:1 they had withdrawn RS 25000 rs20000 rs10000 respectively interest on drawings was charged at8% instead 10% give the necessary adjusting entries and working notes

Posted by Prakash Mishra 8 years, 4 months ago

CBSE > Class 12 > Accountancy

2 answers

Sakshi Bhindora 8 years, 4 months ago

Iod of hari is 500 ram is 400 mohan is 200 Divisible profit of hari is 440 ram is 440 mohan is 220 Adjustment amt of hari is 60 ram is 40 mohan is 20 Journal entry :- Hari's capital a/c dr. 60 To ram's capital a/c. 40 To mohan capital a/c. 20 ( Being adjustment entry of IOD)

Arti Tayal 8 years, 4 months ago

Hari capital a/c Dr ₹60 ,To Ram capitala/c ₹40 ,Mohan capital a/c ₹20

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