[ISC] Q. 84 Solution of Fundamentals of Partnership Firms TS Grewal Book (2024-25)

Solution of Question Number 84 of the Fundamentals of Partnership Accounts (Firm) chapter TS Grewal Book 2024-25 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:-

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