[CBSE] Q. 93 DK Goel Fundamentals of Partnership [2026-27]
Solution of Question Number 93 of the Fundamentals of partnership firm DK Goel CBSE Board (2026-27)
P and Q were partners in a firm sharing profits in 7 : 3 ratio. Their fixed capitals were P ₹ 5,00,000 and Q ₹ 8,00,000. For the year ended 31st March, 2024, interest on capital was credited @ 12% instead of 10%. Show the necessary adjusting entry for the rectification of the error. Also show the working notes clearly.
Ans.
Q’s Current A/c Dr. 8,200
To P’s Current A/c 8,200
Solution:-
