question_answer

X, Y and Z are partners (fixed capitals) sharing profits in the ratio of 3:2:1. After closing accounts for the year ending 31st March 2021, it was found that excess interest on capital @2% p.a. was provided to the partners by mistake. As a result profit of the year got reduced by Rs.2,400. An adjustment entry was recorded for the same:

Z’s Current A/c Dr. 200 To X’s Current A/c   200

The capital of the partners in the beginning were?

 

A) X 60,000; Y 50,000 and Z 40,000 

B) X 50,000; Y 40,000 and Z 20,000

C) X 30,000; Y 40,000 and Z 50,000 

D) X 50,000; Y 40,000 and Z 30,000