Hari, Kunal, and Uma are partners sharing profits and losses in the ratio of 3 : 2 : 1. After the final accounts had been prepared, It was noticed that interest on drawings @ 5% p.a. has not been charged
Hari, Kunal, and Uma are partners sharing profits and losses in the ratio of 3 : 2 : 1. After the final accounts had been prepared, It was noticed that interest on drawings @ 5% p.a. has not been charged.
The drawings of partners were: Hari ₹ 30,000; Kunal ₹ 25,200; Uma ₹ 24,000.
Pass the necessary adjusting Journal entry.
Anurag Pathak Changed status to publish April 20, 2024
Solution:-
Note:–
When Drawings is given for the whole year without date, Interest on drawings is calculated for the 6 months average.
Anurag Pathak Changed status to publish April 20, 2024
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Can u please explain how you got 750 , 630 and 600