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P Q and R are partners in a firm. On 1st April 2022 their fixed capital stood at₹1,50,000, ₹75,000 and 75,000 respectively.As per the provision of partnership deed:(1) R was entitled for a salary of 15,000 p.a.(2) All the partners were entitled to interest on capital at 5% p.a.(3) Profits and losses were to be shared in the ratio of Capitals of the partners.Net Profit for the year ended 31st March, 2023 of 99,000 and 31st March, 2024 of 1,35,000 was divided equally without providing for the above adjustments.You are required to pass an adjustment journal entry to rectify the above errors.? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about P Q and R are partners in a firm. On 1st April 2022 their fixed capital stood at₹1,50,000, ₹75,000 and 75,000 respectively.As per the provision of partnership deed:(1) R was entitled for a salary of 15,000 p.a.(2) All the partners were entitled to interest on capital at 5% p.a.(3) Profits and losses were to be shared in the ratio of Capitals of the partners.Net Profit for the year ended 31st March, 2023 of 99,000 and 31st March, 2024 of 1,35,000 was divided equally without providing for the above adjustments.You are required to pass an adjustment journal entry to rectify the above errors.? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for P Q and R are partners in a firm. On 1st April 2022 their fixed capital stood at₹1,50,000, ₹75,000 and 75,000 respectively.As per the provision of partnership deed:(1) R was entitled for a salary of 15,000 p.a.(2) All the partners were entitled to interest on capital at 5% p.a.(3) Profits and losses were to be shared in the ratio of Capitals of the partners.Net Profit for the year ended 31st March, 2023 of 99,000 and 31st March, 2024 of 1,35,000 was divided equally without providing for the above adjustments.You are required to pass an adjustment journal entry to rectify the above errors.?.

Solutions for P Q and R are partners in a firm. On 1st April 2022 their fixed capital stood at₹1,50,000, ₹75,000 and 75,000 respectively.As per the provision of partnership deed:(1) R was entitled for a salary of 15,000 p.a.(2) All the partners were entitled to interest on capital at 5% p.a.(3) Profits and losses were to be shared in the ratio of Capitals of the partners.Net Profit for the year ended 31st March, 2023 of 99,000 and 31st March, 2024 of 1,35,000 was divided equally without providing for the above adjustments.You are required to pass an adjustment journal entry to rectify the above errors.? 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 P Q and R are partners in a firm. On 1st April 2022 their fixed capital stood at₹1,50,000, ₹75,000 and 75,000 respectively.As per the provision of partnership deed:(1) R was entitled for a salary of 15,000 p.a.(2) All the partners were entitled to interest on capital at 5% p.a.(3) Profits and losses were to be shared in the ratio of Capitals of the partners.Net Profit for the year ended 31st March, 2023 of 99,000 and 31st March, 2024 of 1,35,000 was divided equally without providing for the above adjustments.You are required to pass an adjustment journal entry to rectify the above errors.? defined & explained in the simplest way possible. Besides giving the explanation of P Q and R are partners in a firm. On 1st April 2022 their fixed capital stood at₹1,50,000, ₹75,000 and 75,000 respectively.As per the provision of partnership deed:(1) R was entitled for a salary of 15,000 p.a.(2) All the partners were entitled to interest on capital at 5% p.a.(3) Profits and losses were to be shared in the ratio of Capitals of the partners.Net Profit for the year ended 31st March, 2023 of 99,000 and 31st March, 2024 of 1,35,000 was divided equally without providing for the above adjustments.You are required to pass an adjustment journal entry to rectify the above errors.?, a detailed solution for P Q and R are partners in a firm. On 1st April 2022 their fixed capital stood at₹1,50,000, ₹75,000 and 75,000 respectively.As per the provision of partnership deed:(1) R was entitled for a salary of 15,000 p.a.(2) All the partners were entitled to interest on capital at 5% p.a.(3) Profits and losses were to be shared in the ratio of Capitals of the partners.Net Profit for the year ended 31st March, 2023 of 99,000 and 31st March, 2024 of 1,35,000 was divided equally without providing for the above adjustments.You are required to pass an adjustment journal entry to rectify the above errors.? has been provided alongside types of P Q and R are partners in a firm. On 1st April 2022 their fixed capital stood at₹1,50,000, ₹75,000 and 75,000 respectively.As per the provision of partnership deed:(1) R was entitled for a salary of 15,000 p.a.(2) All the partners were entitled to interest on capital at 5% p.a.(3) Profits and losses were to be shared in the ratio of Capitals of the partners.Net Profit for the year ended 31st March, 2023 of 99,000 and 31st March, 2024 of 1,35,000 was divided equally without providing for the above adjustments.You are required to pass an adjustment journal entry to rectify the above errors.? theory, EduRev gives you an ample number of questions to practice P Q and R are partners in a firm. On 1st April 2022 their fixed capital stood at₹1,50,000, ₹75,000 and 75,000 respectively.As per the provision of partnership deed:(1) R was entitled for a salary of 15,000 p.a.(2) All the partners were entitled to interest on capital at 5% p.a.(3) Profits and losses were to be shared in the ratio of Capitals of the partners.Net Profit for the year ended 31st March, 2023 of 99,000 and 31st March, 2024 of 1,35,000 was divided equally without providing for the above adjustments.You are required to pass an adjustment journal entry to rectify the above errors.? tests, examples and also practice UPSC tests.