28 May 2012
A, B & C were partners in a firm. For financial year 2008-09 the profits were Rs.18,000. The partners shared the profits in the ratio of 2:2:1. There is no partnership deed of the firm in this regard. The adjustment entry will be ___ a) P & L Adjustment A/c Dr. 18,000 b) P & L Adjustment A/c Dr. 18,000 To A’s Capital A/c 7,200 To A’s Capital A/c 6,000 To B‘s Capital A/c 7,200 To B’s Capital A/c 6,000 To C‘s Capital A/c 3,600 To C’s Capital A/c 6,000 c) A’s Capital A/c Dr.1,200 B’s Capital A/c Dr.1,200 To C Capital A/c 2,400 d) None of these
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