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Iy:Jull alu lile prohit-sharing ratio. Give necessaryThe balances of Capital Accounts on 1st April, 2015 were: Roshan 8,00,000, Mahesh 75,00,000, Gopi* 6,00,000 and Jai * 6,00,000.After the accounts for the year ended 31st March, 2016 were prepared, it was discovered that intereston capital @ 10% per annum as provided in the Partnership Deed had not been credited to thePartners' Capital Accounts before the distribution of profits.You are required to rectify the error by passing a single adjusting Journal entry.(ISC 2017)163 Roshan, Mahesh, Gopi and Jai are partners sharing profits and losses in the ratio of 3:3:2:2. |
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Answer» My guess is they' re all re-marking this position, and a LOT of them have also TAKEN material capital off the table |
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