Fundamentals of Partnership (Important Questions Series) Class 12th Accounts Que- 57, 59,62

Описание: Fundamentals of Partnership (Important Questions Series) Class 12th Accounts Que- 57, 59,62 (2025-26)

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57. Reya, Mona and Nisha shared profits in the ratio of 3:2: 1. Profits for the last three years were 1,40,000; 84,000 and 1,06,000 respectively. These profits were however, distributed equally. The error is now to be corrected.

Give the necessary rectification Journal entry.

[Ans.: Debit Nisha's Capital A/c and Credit Reya's Capital A/c by 55,000.]

59. Ram, Mohan and Sohan sharing profits and losses equally have opening capitals of 1,20,000, ₹90,000 and *60,000 respectively. For the year ended 31st March, 2025, interest was credited to them @ 6% p.a. instead of 5% p.a.

Pass the adjustment Journal entry.

[Ans.: Debit Ram and Credit Sohan by 300.]

62. 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.

(CBSE 2020)

[Ans.: Dr. Ram's Capital A/c by 180 and Sohan's Capital A/c by 630; Cr. Mohan's Capital A/c by 810.]