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P, Q and R were partners …

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P, Q and R were partners with fixed capital of ₹ 40,000, ₹32,000and ₹24,000.After distributing the profit of ₹48,000 for the year ended 31st March 2022 in their agreed ratio of 3 : 1 : 1it was observed that: (1) Interest on capital was provided at 10% p.a. instead of 8% p.a. (2) Salary of ₹ 12,000 was credited to P instead of Q. You are required to pass a single journal entry in the beginning of the next year to rectify the above omissions.

Posted by Tushar Kumar 2 months ago

CBSE > Class 12 > Accountancy

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CBSE > Class 12 > Accountancy

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Posted by Himalaya Singhal 1 week, 1 day ago

CBSE > Class 12 > Accountancy

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CBSE > Class 12 > Accountancy

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CBSE > Class 12 > Accountancy

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CBSE > Class 12 > Accountancy

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CBSE > Class 12 > Accountancy