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Krishna Arjun and Bhim are partners …

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Krishna Arjun and Bhim are partners in a firm . The balance of their capital account are * 5,000 ; 10,000 and 15,000 respectively . At the time of preparation of final account it was found that 5 % interest on partners capital was to be allowed and Krishna was entitled to get * 4,500 as salary . But without making provision for interest and salary , profit and loss was divided among the partners . Make adjustment entries to rectify above errors when the profit of the firm was 6,000 .

Posted by Tushal Singh 1 year, 9 months ago

Chhattisgarh Board > Class 12 > Accountancy

0 answers

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