Akul, Bakul and Chadan are partners in a firm sharing profits and losses in the ratio of 4:3:3. Their fixed capitals are 1,00,000, ₹ 2,00,000 and ₹ 3,00,000 respectively. For the year 2022-23, interest on capital is credited to them @ 10%. p.a. instead of 5% p.a. Which of the following entries is necessary to correct the error?

Akul, Bakul, and Chadan are partners in a firm sharing profits and losses in the ratio of 4:3:3. Their fixed capitals are 1,00,000, ₹ 2,00,000, and ₹ 3,00,000 respectively. For the year 2022-23, interest on capital is credited to them @ 10%. p.a. instead of 5% p.a. Which of the following entries is necessary to correct the error?

(a)
Bakul’s Capital A/c ₹ 1,400
To Akul’s Capital A/c ₹ 200
To Chandan’s Capital A/c ₹ 1,200

(b)
Akul’s Capital A/c ₹ 1,400
To Bakul’s Capital A/c ₹ 200
To Chandan’s Capital A/c ₹ 1,200

(c)
Bakul’s Capital A/c ₹ 1,200
Chandan’s Capital A/c ₹ 200
To Akul’s Capital A/c ₹ 1,400

(d)
Bakul’s Capital A/c ₹ 1,000
Chandan’s Capital A/c ₹ 6,000
To Akul’s Capital A/c ₹ 7,000