Home
Class 12
ACCOUNTS
A, B and C sharing profits in the ratio ...

A, B and C sharing profits in the ratio of 2 : 2 : 1 have fixed capitals of Rs.3,00,000, Rs.2,00,000 and Rs.1,00,000 respectively. After closing the accounts for the year ending 31st March, 2019 it was discovered that interest on capitals was provided @12% instead of 10% p.a. In the adjusting entry :

A

Cr. A Rs.1,200, Dr. B Rs.800 and Dr. C Rs.400

B

Dr. A Rs.1,200, Cr. B Rs.800 and Cr. C Rs.400

C

Cr. A Rs.800, Cr. B Rs.400 and Dr. C Rs.1,200

D

Dr. A Rs.800, Dr. B Rs.400 and Cr. C Rs.1,200

Text Solution

Verified by Experts

Promotional Banner

Topper's Solved these Questions

  • ACCOUNTING FOR PARTNERSHIP FIRMS - FUNDAMENTALS

    DK GOEL|Exercise Multiple Choice Questions (viii) Guarantee of Profit to a Partner (HOTS)|13 Videos

  • ACCOUNTING FOR PARTNERSHIP FIRMS - FUNDAMENTALS

    DK GOEL|Exercise Multiple Choice Questions (vi) Interest on Drawings (HOTS)|26 Videos

  • ACCOUNTING RATIOS

    DK GOEL|Exercise Multiple Choice Questions (Profitability Ratios)|13 Videos

Similar Questions

Explore conceptually related problems

P, Q and R sharing profits in the ratio of 2 : 1 : 1 have fixed capitals of Rs.4,00,000, Rs.3,00,000 and Rs.2,00,000 respectively. After closing the accounts for the year ending 31st March, 2019 it was discovered that interest on capitals was provided @6% instead of 8% p.a. In the adjusting entry :

A and B sharing profits in the ratio of 7 : 3 have fixed capitals of Rs.2,00,000 and Rs.1,00,000 respectively. After closing the accounts for the year ending 31st March, 2019 it was discovered that interest on capitals was provided @12% instead of 10% p.a. In the adjusting entry :

P and Q sharing profits in the ratio of 2 : 1 have fixed capitals of Rs.90,000 and Rs.60,000 respectively. After closing the accounts for the year ending 31st March, 2019 it was discovered that interest on capitals was provided @6% instead of 8% p.a. In the adjusting entry :

P, Q and R are equal partners with fixed capitals of Rs.5,00,000, Rs.4,00,000 and Rs.3,00,000 respectively. After closing the accounts for the year ending 31st March, 2019 it was discovered that interest on capitals was provided @7% instead of 9% p.a. In the adjusting entry :

X, Y and Z are equal partners with fixed capitals of Rs.5,00,000, Rs.3,00,000 and Rs.1,00,000 respectively. After closing the accounts for the year ending 31st March 2021 it was discovered that interest of capital was provided @6% instead of 5% p.a. In the adjusting entry :

Sony and Romy are equal partners with fixed capitals of Rs.4,00,000 and Rs.3,00,000 respectively. After closing the accounts for the year ending 31st March, 2019 it was discovered that interest on capitals was provided @8% instead of 10% p.a. In the adjusting entry :

Asha and Vipasha are equal partners with fixed capitals of Rs.5,00,000 and Rs.2,00,000 respectively. After closing the accounts for the year ending 31st March, 2019 it was discovered that interest on capitals was provided @6% instead of 5% p.a. In the adjusting entry :

X, Y and Z are equal partners with fixed capitals of Rs.2,00,000, Rs.3,00,000 and Rs.4,00,000 respectively. After closing the accounts for the year ending 31st March, 2019 it was discovered that interest on capitals @8% p.a.was omitted to be provided. In the adjusting entry :

Anu and Tanu are equal partners with fixed capitals of Rs.2,00,000 and Rs.1,00,000 respectively. After closing the accounts for the year ending 31st March, 2019 it was discovered that interest on capitals @8% p.a. was omitted to be provided. In the adjusting entry :