15 June 2023
when Profit is earned by the company on 31st March 2023 There are three partners A,B and C and their profit ratio is 30:30:40 and Total profit is Rs. 10 Lakh My question is that how to Books Journal entry in Firm Books and partners Books. For Partners Book P/L A/c Dr 10,00,000 To A Capital A/c 3,00,000 To B Capital A/c 3,00,000 To C Capital A/c 4,00,000 My question is that what entry should be passed in the books of Partners Capital account on 31st March 2023.
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