Question No 60 of TS Grewal (CBSE)

Ram, Shyam and Mohan were partners in a firm sharing profits and losses in the ratio of 2:1:2. Their capitals were fixed at Rs. 3,00,000, Rs. 1,00,000, Rs. 2,00,000. For the year ended 31st March, Interest on capital was credited to them @9% instead 10% pa. The profit for the year before charging interest was Rs. 2,50,000. Show your working notes and pass necessary adjustment entry.

Solution No 60 of TS Grewal (CBSE)

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