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Pranav, Karan and Rahim were partners …

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Pranav, Karan and Rahim were partners sharing profits in the ratio of 3:2:1. Their capitals were 25,00,000, 3,00,000 and 2,00,000 respectively as on 1st April, 2022. According to the partnership deed, they were entitled to an interest on capital at 10% p.a. For the year ended 31st March, 2022, profit of 78,000 was distributed among the partners without providing for interest on capitals. Pass the necessary adjusting entry and show the working clearly.

Posted by Laxmi Kumari 1 year, 6 months ago

CBSE > Class 12 > Accountancy

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