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Class 12 Accountancy Partnership Accounts - Basic Concepts AdjustmentsExpert

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A and B share profits equally. A's salary (₹36000) was omitted and profit (₹84000) was distributed equally. What will happen in rectification?

Answer and explanation

Correct answer: (₹18000) from B to A

Correctly A gets salary (₹36000) and half of remaining (₹48000), that is (₹24000). A should get (₹60000) so (₹18000) comes from B.

Related tags

Partnership Adjustments Past Adjustment Partnership Accounts Basic Concepts Accountancy Class 12 Mcq

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