A, B and C are equal partners in firm with fixed capitals of Rs. 2,00,0000, R$. 3,00,000 and Rs.4,00,000 respectively. After closing the accounts for the year ending 31* March,2021 it was discovered that interest on capitals @8% p.a. was omitted to be provided. In the adjustment entry (a) Dr A and Cr C by Rs. 8,000 (b) Cr A and Cr B by Bs. 8,000 (c) Dr A and Cr B by Rs, 8,000 (d) Cr A and Cr C by Rs. 8,000

A, B and C are equal partners in firm with fixed capitals of Rs. 2,00,0000, R$. 3,00,000 and Rs.4,00,000 respectively. After closing the accounts for the year ending 31* March,2021 it was discovered that interest on capitals @8% p.a. was omitted to be provided. In the adjustment entry (a) Dr A and Cr C by Rs. 8,000 (b) Cr A and Cr B by Bs. 8,000 (c) Dr A and Cr B by Rs, 8,000 (d) Cr A and Cr C by Rs. 8,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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please answer 41 in detail
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Only answer 4 and 5 under the Required.
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