Profit earned by a partnership firm for the year ended 31st March 2018 were distributed equally between the partners -Pankaj and Anu without allowing interest on drawings. Interest due on drawings was Pankaj Rs. 3,000 and Anu Rs.1,000.
Pass necessary adjustment entry .

Question

Profit earned by a partnership firm for the year ended 31st March
2018 were distributed equally between the partners -Pankaj and Anu
without allowing interest on drawings Interest due on drawings was
Pankaj Rs 3,000 and Anu Rs 1,000
Pass necessary adjustment entry

Mohit · Accepted Answer

Dear Student,
Here is your answer,

Date
Particulars
LF
Debit
Credit

Pankaj Capital a/c Dr

1000

To Anu Capital a/c

1000

(Being adjustment entry passed)

Regards

Date	Particulars	LF	Debit	Credit
	Pankaj Capital a/c Dr		1000
	To Anu Capital a/c			1000

	(Being adjustment entry passed)

Profit earned by a partnership firm for the year ended 31st March 2018 were distributed equally between the partners -Pankaj and Anu without allowing interest on drawings. Interest due on drawings was Pankaj Rs. 3,000 and Anu Rs.1,000. Pass necessary adjustment entry .

Profit earned by a partnership firm for the year ended 31st March 2018 were distributed equally between the partners -Pankaj and Anu without allowing interest on drawings. Interest due on drawings was Pankaj Rs. 3,000 and Anu Rs.1,000.
Pass necessary adjustment entry .