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Capitals of Kajal, Neerav, and Alisha as on 31st March 2023 were ₹ 90,000, ₹ 3,30,000, and ₹ 6,60,000 respectively. Profit of ₹ 1,80,000 for the year ended 31st March 2023 was distributed in the ratio of 4:1:1 after allowing interest on capital @ 10% p.a. During the year, each partner withdrew ₹ 3,60,000. The Partnership Deed was silent as to profit sharing ratio but provided for interest on capital @ 12% p.a.

Pass the necessary adjustment entry showing the working clearly.

Anurag Pathak Changed status to publish April 11, 2024
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