[ISC] Q. 77 Solution of Fundamentals of Partnership Firms TS Grewal Book ISC (2026-27)

Solution of Question number 77 of the Fundamentals of Partnership Accounts (Firm) chapter TS Grewal Book 2026-27 Edition ISC Board.

Anil, Sunil, and Ramesh are partners. Their fixed capitals as on 31st March 2023 were: Anil ₹ 50,000, Sunil ₹ 1,00,000, and Ramesh ₹ 1,50,000. Profit for the year 2022-23 of ₹ 60,000 was credited. interest on capital was credited @ 10% p.a. instead of 12% p.a.

Pass the necessary adjusting Journal entry.

Solution:-