solution no. 18 of cbse practice question paper for 2024 exam @sethsaccountancytricks

solution no. 18 of cbse practice question paper for 2024 exam @sethsaccountancytricks Eden and ivon were partners in a firm sharing profits and losses in the ratio of 5:4. Their Capitals were ₹ 75000 and ₹90000 respectively. After the accounts for the financial year ending march 31 2023 have been prepared , it was observed that interest on capital @ 10% per annum and salary to eden @ ₹ 9000 per annum, as provided in the partnership deed has not been credited to the partners capital accounts before distribution of profits. You are required to give necessary rectifying entries using profit and loss adjustment account. #class12 #accountancy #commerce #classxii #accounts #cbseboardexam2024 #pastadjustment #pastadjustments #profitandlossadjustmentaccount #eden #ivon