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प्रश्न
Piya and Rosa were partners in a firm sharing profits and losses in the ratio of 3 : 5. Their fixed capitals were ₹ 10,00,000 and ₹ 6,00,000 respectively. After the accounts for the year were prepared, it was noticed that interest on capital @ 8% p.a., as provided in the partnership deed, was not credited to the capital accounts of partners before distribution of profits.
Pass the necessary adjusting entry. Show your workings clearly.
खाता बही
उत्तर
| Journal Entries | ||||
| Date | Particulars | L.F. | Amount Dr. | Amount Cr. |
| Rosa's Current A/c ...Dr. | 32,000 | - | ||
| To Piya's Current A/c | - | 32,000 | ||
| (For rectification made for omission of Interest on Capital) | ||||
| Adjustment Table | |||
| Particular | Piya (₹) | Rosa (₹) | Firm (₹) |
| I. Amount to be Credited | |||
| Interest on Capital @ 8% | 80,000 | 48,000 | 1,28,000 |
| II. Amount to be Debited | |||
| Share of profit | 48,000 | 80,000 | 1,28,000 |
| Net Effect (I - II) | 32,000 | 32,000 | Nil |
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