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Ram, Shyam, Ghanshyam and Radheshyam are …

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Ram, Shyam, Ghanshyam and Radheshyam are partners sharing profits and losses on the ratio of 4:3:3:2. Their respective fixed capitals on 31st March, 2016 were Rs. 1,20,000. 1,80,000,2,40,000 and Rs. 1,80,000 respectively. After preparing the final accounts for the year ended 31st March, 2016, it was discovered that interest on capital @ 12% per annum was not allowed and interest on drawings amounting to Rs.. 4,000, Rs. 5,000, Rs. 3,000 and Rs. 2,400 respectively was also not charged. Pass necessary adjustment journal entry and showing your working clearly

Posted by Jana Ca 1 year, 6 months ago

CBSE > Class 12 > Accountancy

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Jai Krishan Prasad 1 year, 4 months ago

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CBSE > Class 12 > Accountancy

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