Ram, Shyam and Mohan were partners in a firm sharing profits and losses in the ratio of 2 : 1 : 2. Their capitals were fixed at ₹3,00,000, ₹1,00,000, ₹2,00,000. For the year ended 31st March, 2023, interest on capital was credited to them @ 9% instead of 10% p.a. The profit for the year before charging interest was ₹2,50,000. Show your working notes clearly and pass necessary adjustment entry.

Ram, Shyam and Mohan were partners in a firm sharing profits and losses in the ratio of 2 : 1 : 2. Their capitals were fixed at  ₹3,00,000,   ₹1,00,000,   ₹2,00,000. For the year ended 31st March, 2023, interest on capital was credited to them @ 9% instead of 10% p.a. The profit for the year before charging interest was   ₹2,50,000.
Show your working notes clearly and pass necessary adjustment entry.

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