[NCERT] Q 43 Solutions Accounting for Partnership Basic Concepts Class 12
Solution of Question number 43 of Accounting for Partnership Basic Concepts NCERT Accountancy solution Class 12 CBSE Board
Anju, Manju and Mamta are partners whose fixed capitals were ₹ 10,000, ₹ 8,000 and ₹ 6,000, respectively. As per the partnership agreement, there is a provision for allowing interest on capitals @ 5% p.a. but entries for the same have not been made for the last three years. The profit-sharing ratio during there years remained as follows:
| Year | Anju | Manju | Mamta |
| 2016 | 4 | 2 | 5 |
| 2017 | 3 | 3 | 1 |
| 2018 | 1 | 1 | 1 |
Make necessary and adjustment entry at the beginning of the fourth year i.e., April 2019.
[Ans : Mamta (Dr.) ₹ 200, Anju (Cr.) ₹ 100 and Manju (Cr.) ₹ 100]
Solution:-
