Anju, Manju and Mamta are partners whose fixed capitals were ₹ 10,000, ₹ 8,000 and ₹ 6,000, respectively
Anju, Manju and Mamta are partners whose fixed capitals were ₹ 10,000, ₹ 8,000 and ₹ 6,000, respectively. As per the partnership agreement, there is a provision for allowing interest on capitals @ 5% p.a. but entries for the same have not been made for the last three years. The profit-sharing ratio during there years remained as follows:
Make necessary and adjustment entry at the beginning of the fourth year i.e., April 2019.
[Ans : Mamta (Dr.) ₹ 200, Anju (Cr.) ₹ 100 and Manju (Cr.) ₹ 100]
| Year | Anju | Manju | Mamta |
| 2016 | 4 | 2 | 5 |
| 2017 | 3 | 3 | 1 |
| 2018 | 1 | 1 | 1 |
Anurag Pathak Changed status to publish March 25, 2024
