question_answer

A, B and C are partners in a firm sharing profits in the ratio of 5 : 3 : 2. Their capitals on 1st  April, 2016 were Rs. 1,50,000, Rs. 2,00,000 and Rs. 4,00,000 respectively. A withdrew Rs. 10,000 from the firm on 15th September, 2016. B withdrew stock worth Rs. 12,000. C withdrew Rs. 1,00,000 from her capital on 1st January, 2017. The partnership deed provides for charging interest on drawings @ 6% p.a. After the final accounts were prepared, it was discovered that interest on drawings had not been charged. Give the necessary adjusting journal entry.

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