71. Mannu and Shristhi are partners in a firm sharing profits in the ratio of 3:2. Following information is of the firm as on 31st March, 2025:
Liabilities | Rs. | Assets | Rs. | ||
Drawings: | |||||
Mannu’s Capital | 3,00,000 | Mannu | 40,000 | ||
Shristi’s Capital | 1,00,000 | 4,00,000 | Shristi | 20,000 | 80,000 |
Other Assets | 3,40,000 | ||||
4,00,000 | 4,00,000 |
Profit for the year ended 31st March, 2025 was ₹50,000 which was divided in the agreed ratio, but interest @ 5% p.a. on capital and @ 6% p.a. on drawings was inadvertently omitted. Adjust interest on drawings on an average basis for 6 months. Give the adjustment entry.
(NCERT, Modified)
Answer :