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Sanjay, Sudha and Shakti are partners in a firm sharing profits in theratio of 3:1:1. Their fixed capital balances are ₹4,00,000, ₹1,60,000 and₹1,20,000 respectively. Net profit for the year ended 31st March, 2020distributed amongst the partners was ₹1,00,000, without taking intoaccount the following adjustments:(a) Interest on capitals @ 2.5% p.a.(b) Salary to Sanjay ₹18,000 p.a. and commission to Shakti ₹12,000.(c) Sanjay was allowed a commission of 6% of divisible profit aftercharging such commission.Pass a rectifying journal entry in the books of the firm. Show workingsclearly.? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Sanjay, Sudha and Shakti are partners in a firm sharing profits in theratio of 3:1:1. Their fixed capital balances are ₹4,00,000, ₹1,60,000 and₹1,20,000 respectively. Net profit for the year ended 31st March, 2020distributed amongst the partners was ₹1,00,000, without taking intoaccount the following adjustments:(a) Interest on capitals @ 2.5% p.a.(b) Salary to Sanjay ₹18,000 p.a. and commission to Shakti ₹12,000.(c) Sanjay was allowed a commission of 6% of divisible profit aftercharging such commission.Pass a rectifying journal entry in the books of the firm. Show workingsclearly.? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Sanjay, Sudha and Shakti are partners in a firm sharing profits in theratio of 3:1:1. Their fixed capital balances are ₹4,00,000, ₹1,60,000 and₹1,20,000 respectively. Net profit for the year ended 31st March, 2020distributed amongst the partners was ₹1,00,000, without taking intoaccount the following adjustments:(a) Interest on capitals @ 2.5% p.a.(b) Salary to Sanjay ₹18,000 p.a. and commission to Shakti ₹12,000.(c) Sanjay was allowed a commission of 6% of divisible profit aftercharging such commission.Pass a rectifying journal entry in the books of the firm. Show workingsclearly.?.

Solutions for Sanjay, Sudha and Shakti are partners in a firm sharing profits in theratio of 3:1:1. Their fixed capital balances are ₹4,00,000, ₹1,60,000 and₹1,20,000 respectively. Net profit for the year ended 31st March, 2020distributed amongst the partners was ₹1,00,000, without taking intoaccount the following adjustments:(a) Interest on capitals @ 2.5% p.a.(b) Salary to Sanjay ₹18,000 p.a. and commission to Shakti ₹12,000.(c) Sanjay was allowed a commission of 6% of divisible profit aftercharging such commission.Pass a rectifying journal entry in the books of the firm. Show workingsclearly.? in English & in Hindi are available as part of our courses for UPSC. Download more important topics, notes, lectures and mock test series for UPSC Exam by signing up for free.

Here you can find the meaning of Sanjay, Sudha and Shakti are partners in a firm sharing profits in theratio of 3:1:1. Their fixed capital balances are ₹4,00,000, ₹1,60,000 and₹1,20,000 respectively. Net profit for the year ended 31st March, 2020distributed amongst the partners was ₹1,00,000, without taking intoaccount the following adjustments:(a) Interest on capitals @ 2.5% p.a.(b) Salary to Sanjay ₹18,000 p.a. and commission to Shakti ₹12,000.(c) Sanjay was allowed a commission of 6% of divisible profit aftercharging such commission.Pass a rectifying journal entry in the books of the firm. Show workingsclearly.? defined & explained in the simplest way possible. Besides giving the explanation of Sanjay, Sudha and Shakti are partners in a firm sharing profits in theratio of 3:1:1. Their fixed capital balances are ₹4,00,000, ₹1,60,000 and₹1,20,000 respectively. Net profit for the year ended 31st March, 2020distributed amongst the partners was ₹1,00,000, without taking intoaccount the following adjustments:(a) Interest on capitals @ 2.5% p.a.(b) Salary to Sanjay ₹18,000 p.a. and commission to Shakti ₹12,000.(c) Sanjay was allowed a commission of 6% of divisible profit aftercharging such commission.Pass a rectifying journal entry in the books of the firm. Show workingsclearly.?, a detailed solution for Sanjay, Sudha and Shakti are partners in a firm sharing profits in theratio of 3:1:1. Their fixed capital balances are ₹4,00,000, ₹1,60,000 and₹1,20,000 respectively. Net profit for the year ended 31st March, 2020distributed amongst the partners was ₹1,00,000, without taking intoaccount the following adjustments:(a) Interest on capitals @ 2.5% p.a.(b) Salary to Sanjay ₹18,000 p.a. and commission to Shakti ₹12,000.(c) Sanjay was allowed a commission of 6% of divisible profit aftercharging such commission.Pass a rectifying journal entry in the books of the firm. Show workingsclearly.? has been provided alongside types of Sanjay, Sudha and Shakti are partners in a firm sharing profits in theratio of 3:1:1. Their fixed capital balances are ₹4,00,000, ₹1,60,000 and₹1,20,000 respectively. Net profit for the year ended 31st March, 2020distributed amongst the partners was ₹1,00,000, without taking intoaccount the following adjustments:(a) Interest on capitals @ 2.5% p.a.(b) Salary to Sanjay ₹18,000 p.a. and commission to Shakti ₹12,000.(c) Sanjay was allowed a commission of 6% of divisible profit aftercharging such commission.Pass a rectifying journal entry in the books of the firm. Show workingsclearly.? theory, EduRev gives you an ample number of questions to practice Sanjay, Sudha and Shakti are partners in a firm sharing profits in theratio of 3:1:1. Their fixed capital balances are ₹4,00,000, ₹1,60,000 and₹1,20,000 respectively. Net profit for the year ended 31st March, 2020distributed amongst the partners was ₹1,00,000, without taking intoaccount the following adjustments:(a) Interest on capitals @ 2.5% p.a.(b) Salary to Sanjay ₹18,000 p.a. and commission to Shakti ₹12,000.(c) Sanjay was allowed a commission of 6% of divisible profit aftercharging such commission.Pass a rectifying journal entry in the books of the firm. Show workingsclearly.? tests, examples and also practice UPSC tests.