Q2357
P, Q and R are equal partners with fixed capitals of Rs. 5,00,000, Rs. 4,00,000 and Rs. 3,00,000, respectively. After closing the accounts for the year ending 31st March 2019, it was discovered that the interest on capitals was provided @ 7% per annum instead of 9% per annum. In the adjusting entry
A.
P will be credited with Rs. 2,000 and Q will be debited with Rs. 2,000
B.
P will be debited with Rs. 2,000 and Q will be credited with Rs. 2,000
C.
P will be debited with Rs. 2,000 and R will be credited with Rs. 2,000
D.
P will be credited with Rs. 2,000 and R will be debited with Rs. 2,000
AnswerAnswer: Option D
Solution
Answer: Option D
No explanation is given for this question Let's Discuss on Board