A, B, C and D are partners sharing profits in 2 : 2 : 1 : 1. They distributed the profit for the year ending 31st March, 2023, ₹ 9,00,000 without providing for the following
A, B, C and D are partners sharing profits in 2 : 2 : 1 : 1. They distributed the profit for the year ending 31st March, 2023, ₹ 9,00,000 without providing for the following:
(i) Salary to A @ 15,000 per month.
(ii) Salary to B and D @ ₹ 30,000 per quarter to each partner.
Give necessary adjusting journal entry.
Ans.
| B’s Capital A/c Dr. C’s Capital A/c Dr. | 20,000 70,000 |
| To A’s Capital A/c To D’s Capital A/c | 40,000 50,000 |
Anurag Pathak Answered question May 28, 2024
