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Net profit transfer to Partners capital account

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(Querist)
20 February 2022 In a partnership firm there are three partners , Theirs profit sharing ratio is as follow respectively
A-50%
B-40% and
C-10%
Net profit for FY 2020-21 is Rs. 50,00,000
Now i want to transfer Net profit to partners capital account,
can i pass journal entry as below
Net Profit Dr. Rs. 50,00,000
A Capital Account Cr. Rs. 25,00,000
B Capital Account Cr rs. 20,00,000
C Capital Account Rs. 5,00,000
Please reply entry passed are true or False.
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
20 February 2022 Yes, it's true...........
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Daya

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Daya (Querist)
20 February 2022 Thanks sir, to reply my question.
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
21 February 2022 You are welcome.......

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