question archive A" - and C are partners sharing profits and losses in the ratio of +@2@1
A" - and C are partners sharing profits and losses in the ratio of +@2@1
Subject:AccountingPrice: Bought3
A" - and C are partners sharing profits and losses in the ratio of +@2@1. their fixed capitals are $s.1"!"!!!" $s. 1"!!"!!! and $s. 0!"!!! respectively. 9rofit for the year after providing interest on capital was $s. %!"!!!" which was wrongly transferred to partners equally. After distribution of profit, it was found that interest on capital provided to them ( 1!* instead of 12*. 9ass necessary adjustment entry.Show your work clearly.
