Anand, Ridhi and Shyam were partners in a firm sharing profits and losses in the ratio of 2:2:1. Their fixed capitals were Rs. 1,00,000, Rs. 60,000 and Rs. 40,000 respectively. For the year ended 31st March, 2023, interest on capital was credited to their capital accounts @ 9% p.a instead of 7% p.a. Pass the necessary adjusting Journal entry.

Marks-3, CBSE: 2023-24/Zone-5/Set-1/Q-17