[ISC] Q. 76 Solution of Fundamentals of Partnership Firms TS Grewal Book ISC (2026-27)

Solution of Question number 76 of the Fundamentals of Partnership Accounts (Firm) chapter TS Grewal Book 2026-27 Edition ISC Board.

Ram, Mohan and Sohan sharing profits and losses equally have capitals ₹ 1,20,000; ₹ 90,000 and ₹ 60,000. For the year ended 31st March, 2023, interest on capital was credited to them @ 6% instead of 5%. Give adjustement Journal entry.

Solution:-