Azadand Benny are equal partners. Their capitals are Rs 40,000 and Rs80,000, respectively. After the accounts for the year have beenprepared it is discovered that interest at 5% p.a. as provided in thepartnership agreement, has not been credited to the capital accountsbefore distribution of profits. It is decided to make an adjustmententry at the beginning of the next year. Record the necessary journalentry.

Azadand Benny are equal partners. Their capitals are Rs 40,000 and Rs8

1.	Azadand Benny are equal partners. Their capitals are Rs 40,000 and Rs80,000, respectively. After the accounts for the year have beenprepared it is discovered that interest at 5% p.a. as provided in thepartnership agreement, has not been credited to the capital accountsbefore distribution of profits. It is decided to make an adjustmententry at the beginning of the next year. Record the necessary journalentry.
Answer» Azad and Benny are equal partners. Their capitals are Rs 40,000 and Rs 80,000, respectively. After the accounts for the year have been prepared it is discovered that interest at 5% p.a. as provided in the partnership agreement, has not been credited to the capital accounts before distribution of profits. It is decided to make an adjustment entry at the beginning of the next year. Record the necessary journal entry.

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