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X and Y arepartnerssharingsprofitsand lossesin theratioemployedZ astheirmanagertoehomtheypaida salary of Rs. 7,500 permonth Z haddepositedRs. 2,00,000onwhichinterestwas payble@9% p.aAtthe endof theaccounting year (i,e., 31stMarch 2018 ) 2017 -18(after divisionof theyear'sprofits )itwas decidedthat Z shouldbe treatedas apartner withfrom 1st April2014with1/6 th shareof profits hisdepositbeing consided as capitalcaryyinginterest@65 p. a likecapitals of otherpartners the firm'sprofitsand losses afterallowing intereston capitals were - 2014-15: profit Rs. 5,90,000,2015-16: profitRs. 6,26,000: 2016 -17: lossRs. 40,000and 2017-18 , profit Rs, 7,80,000 recordnecessaryjournalon capitalentriesto giveeffectto theabove .

Answer» <html><body><p></p><a href="https://interviewquestions.tuteehub.com/tag/solution-25781" style="font-weight:bold;" target="_blank" title="Click to know more about SOLUTION">SOLUTION</a> :debitXby <a href="https://interviewquestions.tuteehub.com/tag/rs-625947" style="font-weight:bold;" target="_blank" title="Click to know more about RS">RS</a>, 3,600 Y by Rs, 2,400andcreditZ by Rs, 6,000</body></html>


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