On 31 March ,Capital accounts of E ,M and A after making all the adjustmentsfor profits, drawings etc, were as E-Rs. 8,00,000, M-Rs.6,00,000 and A-Rs. 4,00,000. Subsequently it was found that interest on capital and interest on drawingshad been omitted. The partners were entitled to interest on capital 5%p.a.Drawings during the year were: E-Rs. 2, 00,000, M-Rs. 1, 50,000 and A-Rs.90,000. Interest on drawings chargeable to the partners were E-Rs. 5,000, M-Rs.3,600 and A-Rs.2,000.The net profit during the year amounted toRs.12.00,000.The profit sharing ratio of the partners was 3:2:1.Pass the necessary adjustment entry for rectifying the above errors of omission

On 31 March ,Capital accounts of E ,M and A after making all the adjus

1.	On 31 March ,Capital accounts of E ,M and A after making all the adjustmentsfor profits, drawings etc, were as E-Rs. 8,00,000, M-Rs.6,00,000 and A-Rs. 4,00,000. Subsequently it was found that interest on capital and interest on drawingshad been omitted. The partners were entitled to interest on capital 5%p.a.Drawings during the year were: E-Rs. 2, 00,000, M-Rs. 1, 50,000 and A-Rs.90,000. Interest on drawings chargeable to the partners were E-Rs. 5,000, M-Rs.3,600 and A-Rs.2,000.The net profit during the year amounted toRs.12.00,000.The profit sharing ratio of the partners was 3:2:1.Pass the necessary adjustment entry for rectifying the above errors of omission
Answer»