[CBSE] Q. 60 Solution of Fundamentals of Partnership Firms TS Grewal Book (2023-24)

Solution of Question number 60 of the Fundamentals of partnership firm chapter TS Grewal Book CBSE 2023-24 Edition.

Reya, Mona, and Nisha shared profits in the ratio of 3 : 2 : 1. Profits for the last three years were ₹ 1,40,000; ₹ 84,000, and ₹ 1,06,000 respectively. These profits were by mistake distributed equally. The error is now to be corrected.

Give the necessary rectification Journal entry.

[Ans: Debit Nisha’s Capital A/c and Credit Reya’s Capital A/c by ₹ 55,000]

Solution:-

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