Question 57 of dk goyal volume 1 part a chapter 1

Question 57 of dk goyal volume 1 part a chapter 1 ACCOUNT'NG FOR ?AFgNERSH C on capital was to be provided @ to before distribution of profits Pass necessary reoitS•ing entry for same. 8.000 8.0001 C s Capital A/c 'I-o A's Capital A/c Q.ss. X: Y and zarepartner-sina sharing profits and losses in the . e l,25.ooo the year ended 1st March, 2018 interest on capital was credited to them@8% Give adjusting journal entry. Bns. Current A/c will be debited by 050; Y and Zs Current A}cs credited by and ?600 respectively.] 56. B and C are partners ina firm sharing profits and losses in the ratio o, 4 3 : 3. Ibeir fixed capitals were e and respectively For tin• year ended 3 1 st March. 2018 interest on capital was credited to them @ instead of 90/0 p.a. Pass the necessary adjusting journal entry. Bns. B's Current A/c Cs Current A/c To A ' s Current Ajc 1,200 1,400! Note : Since the capitals are fixed. Current Accounts will be debited or credited. 435'. Aner the accounts of a partnership have been drawn up and the bcxyks closed off, it is discovered that for the years ended 31st March, 2016 and 2017, interes has been credited to the partners upon their capitals at 5% per annum although, provision for interest is made in the partnership agreement. The amounts involved are : Year 2016 2017 Interest Credited B c 4,200 2.400 1.320 4,320 2,520 1,320 You are required to put through adjusting entry as on 1st April. 2017, ifthe profil were shared as fOllows in 2016, 2 : 2: and in 2017, 3 : 4 : 3. Bns. A's Capital A/c Or. 2,904 To D's Capital A/c To cs capital 1.3921 58. Sachin, Kapil and Rashmi have been sharing profits in the ratio