question_answer

P and Q are partners sharing Profits in the ratio of 2:1 with fixed capitals of Rs.10,00,000 and Rs.5,00,000 respectively. After closing the accounts for the year ending 31st March 2021 it was discovered that interest on capitals was provided @ 10 % p.a. but partnership deed is silent on interest on capital. In the adjusting entry Q's Current Account will be:

A) Credited with 50,000      

B) Debited with 50,000

C) Neither debited nor credited

D) Credited with 1,00,000