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A,B,Care in partnership. On 1 April, 2018 their capitals were: A-Rs.5,00,000(Cr.), B-Rs 3900.000(Cr.) and C- Rs.40,000(Dr.). As per the partnership deed, Interest on@%p.a. and Interest on Drawings is to be charged @8%p.a.Capital is to be allowYou find that:1) On 1st July 2018, A withdrew Rs.1,00,000 against capital;2) B withdrew Rs.5,000 p.m during the year3) C withdrew Rs.60,000 during the year.The profit for the year ended 31 s March, 2019 amounted to Rs.3,84,000.You are required to prepare journal entries for the above transactions and also prepare partner's capitaAccounts. |
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