Solution of Q 54 Fundamentals of Partnership Firm TS Grewal 2022-23 [CBSE]
Step-by-step solution of Question 54, Chapter 2 Accounting for Partnership Firms – Fundamentals, TS Grewal Class 12 Accountancy 2022-23 for the CBSE Board.
Question 54
Reya, Mona and Nisha shared profits in the ratio of 3 : 2 : 1. Profits for the last three years were ₹1,40,000; ₹84,000 and ₹1,06,000 respectively. These profits were by mistake distributed equally. The error is now to be corrected.
Give the necessary rectification Journal entry.
Solution
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About this solution
This is Chapter 2 Accounting for Partnership Firms – Fundamentals of TS Grewal Edition 2022-23.
Written by Vijay Adarsh, teaching commerce since 2003 to Class 11, Class 12, B.Com, CA, CS and CMA students.
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