Home  >  Class 12 Accountancy  >  MCQs for Accounting for Partnership Firms

A and B sharing profits in the ratio of 7 : 3 have fixed capitals of ₹2,00,000 and ₹1,00,000 respectively. After closing the accounts for the year ending 31st March 2019 it was discovered that interest on capitals was provided @ 12% instead of 10% p.a. In the adjusting entry :

🎲 Try a Random Question  |  Total Questions in Quiz: 124  |  🧠 Study this quiz with Flashcards
This question is part of a full practice quiz:
MCQs for Accounting for Partnership Firms — practice the complete quiz, review flashcards, or try a random question.
🧠 Flashcards (fast review) 🧪 Practice Quiz ⚔️ Challenge a Friend 🥊 📊 View Stats

A and B sharing profits in the ratio of 7 : 3 have fixed capitals of ₹2,00,000 and ₹1,00,000 respectively. After closing the accounts for the year ending 31st March 2019 it was discovered that interest on capitals was provided @ 12% instead of 10% p.a. In the adjusting entry :






ADVERTISEMENT
 
❤ If you liked Fatskills, consider supporting us by checking out The Life Manuals You Never Got.

🌈  Our mission is to help improve your scores in any subject and exam withonline quizzes, practice tests, study guides, & advice for students. Since 2018.
About | Explore | User Guide | Topics | Subjects | Doubt Solver | Career Aptitude Test | Answers | Free Tools | What Should We Know?
Privacy | Terms |
Without work one finishes nothing. - Ralph Waldo Emerson
© 2026 Fatskills.com

All trademarks, logos and brand names are the property of their respective owners. All company, product and service names used in this website are for identification purposes only. Use of these names, trademarks and brands does not imply endorsement.