Ram, Mohan, and Sohan sharing profits and losses equally have capitals of ₹ 1,20,000, ₹ 90,000, and ₹ 60,000 respectively
Ram, Mohan, and Sohan sharing profits and losses equally have capitals of ₹ 1,20,000, ₹ 90,000, and ₹ 60,000 respectively. For the year ended 31st March 2023, interest was credited to them @ 6% p.a. instead of 5% p.a. Pass the adjustment Journal entry.
[Ans: Debit Ram and Credit Sohan by ₹ 300]
Anurag Pathak Changed status to publish April 11, 2024
