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Class 12 Accountancy Partnership Accounts - Basic Concepts AdjustmentsExpert

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A and B share profits in (3:2). Profit (₹50000) was wrongly shared equally. What will happen in rectification?

Answer and explanation

Correct answer: (₹5000) from B to A

Wrong shares are (₹25000) and (₹25000). Correct shares are (₹30000) and (₹20000), so B transfers (₹5000) to A.

Related tags

Partnership Adjustments Profit Rectification Partnership Accounts Basic Concepts Accountancy Class 12 Mcq

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