Ram, Mohan, and Sohan were partners sharing profits in the ratio of 2 : 1 : 1. Ram withdrew ₹ 3,000 every month and Mohan withdrew ₹4,000 every month. Interest on drawings @ 6% p.a. was charged, whereas the partnership deed was silent about interest on drawings.

Showing, your working clearly, pass the necessary adjustment entry to rectify the error.

[Ans: Dr. Ram’s Capital A/c by ₹ 180 and Sohan’s Capital A/c by ₹ 630; Cr. Mohan’s Capital A/c by ₹ 810]

Anurag Pathak Changed status to publish April 11, 2024
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