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Mita and Usha are partners in …

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Mita and Usha are partners in a firm sharing profit in ratio of 2:3.their capital account as on 1st January,2015 showed balances of Rs.140000 and Rs.120000 respectively.the drawings of Mita and Usha during the year 2015-16 were Rs.32000 and Rs.24000 respectively.both the amounts were withdrawn on 1st, January,2016.it was subsequently found that the following items had been omitted while preparing the final accounts for the year ended 31st March,2016: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- interest 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 Shreya Tiwari 2 years, 6 months ago

CBSE > Class 12 > Accountancy

1 answers

Mohini Sharma 2 years, 6 months ago

140000 ×6.100

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