Ram Mohan and Sohan Were  partners sharing profit in the ratio of 2:1:1 . ram withdrew Rs.3000 every month and Mohan withdrew Rs.4000 every month . interest on drawings at 6% per annum was charged where as partnership deed was silent about interest on drawings . show your working clearly pass the necessary adjustment entry to rectify the error

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What is the answer
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Mohan's Capital A/C.... Dr. Rs. 810 To Ram's Capital A/C.......CR. Rs.180 To Mohan's Capital A/C........CR. Rs. 630
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Ram Mohan and Sohan Were partners sharing profit in the ratio of 2:1:1 . ram withdrew Rs.3000 every month and Mohan withdrew Rs.4000 every month . interest on drawings at 6% per annum was charged where as partnership deed was silent about interest on drawings . show your working clearly pass the necessary adjustment entry to rectify the error
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Ram, Mohan and Sohan were partners sharing profits in the ratio of 2 : 1 : 1. Ram withdrew ₹ 3,000 every month and Mohan withdrew ₹ 4,000 every month. Interest on drawings @ 6% p.a. was charged, whereas the partnership deed was silent about interest on drawings. Showing your working clearly, pass the necessary adjustment entry to rectify the error.
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Nothing
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Ram Mohan and Sohan

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Ram Mohan and Sohan where partners sharing ratio in to receive and receive an withdraw 3000 every month and Mohan withdrawal 4000 every month interest on drawing 6% per annum was charged whereas partnership deed was silent about interest on drawing showing your working clearly pass the necessary adjustment entry to rectify the error
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Yash

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Ram holding 10 shares of Rs. 10 each. He paid Rs. 2 on application and Rs. 3 on allotment but
could not pay Rs. 3 on first call. His shares were forfeited by the Directors. The Final call is not
made as yet. Give Journal entries in the book of company.
 
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Ram, Mohan and Sohan were partners sharing profits in the ratio of 2 : 1 : 1. Ram withdrew
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Ram Mohan and Sohan Were partners sharing profit in the ratio of 2:1:1 . ram withdrew Rs.3000 every month and Mohan withdrew Rs.4000 every month . interest on drawings at 6% per annum was charged where as partnership deed was silent about interest on drawings . show your working clearly pass the necessary adjustment entry to rectify the error
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Good
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Pass necessary adjustment entry. Ram, Mohan and Sohan were partners sharing profits in the ratio of 2:1:1. Ram withdrew * 3,000 every month and Mohan withdrew 4,000 every month. Interest on drawings @ 6% p.a. was charged, whereas the partnership deed was silent about interest on drawings. Showing your working clearly, pass the necessary adjustment entry to rectify the error
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Hello,  

                                                             Journal
 Date       Particulars                                                              Dr.                    Cr.
                Ram's Capital A/C                      Dr.                       180
                Sohan's Capital A/C                   Dr.                        630
                      To Mohan's Capital A/C                                                             810
                 (Being Adjustment entry for
                 Interest on drawings wrongly charged) 

Working Note:
                                                             Adjustment Table 
 Particular                                                                 Ram                 Mohan               Sohan   
  Interest on drawing, wrongly debited                     1080                 1440
  Loss to be debited                                                 1260                    630                     630
  Net Total                                                                  180                    810                     630
                                                                                   Dr.                      Cr.                      Dr.
 
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62. Ram ,mohan and Sohan a/c

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Particulars Dr. (Rs) Cr. (Rs)
Ram’s Capital A/c                                                      …Dr
Mohan’s Capital A/c                                                 …Dr
   To Sohan’s Capital A/c

(Being interest on Drawing Charged Wrongly, now Rectified)

180
630


810

Working Notes:
WN1:
Table Adjustments
Particulars Ram Mohan Sohan Total
Interest on Drawing Wrongly Debited 1,080

-

1,440

2,520
Profits to be credited 1,260

630

630

2,520
Amount to adjusted 180(Dr.)

630(Dr.)

810(Cr.)

 

WN2: Interest on Drawing Wrongly Debited
Ram’s Interest on Drawing= 36,000×6/100×6/12=1,080
Sohan’s Interest on Drawing= 48,000×6/100×6/12=1,440
WN3: Profits to be credited (1,080+1,440=2,520)

Ram = 2,520×2/4=1,260
Mohan =2,520×1/4=630
Sohan = =2,520×1/4=630

 
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