Tushar, Kapil, and Ajay are partners. Their fixed capitals as on 31st March 2023 were: Tushar ₹ 5,00,000, Kalil ₹ 10,00,000, and Ajay ₹ 15,00,000. Profit for the year 2022-23 ₹ 6,00,000 was distributed.

Anurag Pathak
April 15, 2023
[ISC] Fundamentals of Partnership, [ISC} TS Grewal Solutions, Accountancy Class 12th

2.26K views4 days ago[ISC] Fundamentals of Partnership [ISC} TS Grewal Solutions Accountancy Class 12th

Anurag Pathak 24.15K April 15, 2023 0 Comments

Tushar, Kapil, and Ajay are partners. Their fixed capitals as on 31st March 2023 were: Tushar ₹ 5,00,000, Kalil ₹ 10,00,000, and Ajay ₹ 15,00,000. Profit for the year 2022-23 ₹ 6,00,000 was distributed.

Interest on capital @ 10% p.a. was not credited though there was a provision in the Partnership Deed.

Pass the necessary adjusting entry.

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