On 31st March, 2023, the capitals of Raghav and Diya stood at Rs. 4,00,000 and Rs. 3,00,000 respectively, after the necessary adjustment in respect of drawings and net profit. Subsequently, it was discovered that interest on capital @ 10% p.a. had been omitted. The Net Profit for the year ended 31st March, 2023 amounted to Rs. 1,00,000. 

 During the year ended 31st March, 2023, Ragha’s drawings were Rs. 2,000 drawn at the beginning of each month, while Diya s drawings were Rs. 3,000 drawn at the beginning of each quarter. Pass the necessary adjustment entry. 

Marks-3, CBSE: 2023-24/Zone-3/Set-1/Q-20*