Ram, Mohan and Sohan were partners sharing profits in the ratio of 2:1:1. Ram withdrew ₹3,000 every month and Mohan withdrew ₹4,000 every month. Interest on drawings @ 6% p.a. was charged, whereas the partnership deed was silent about interest on drawings. Showing your working clearly, pass the necessary adjustment entry to rectify the error.

Ram, Mohan and Sohan were partners sharing profits in the ratio of 2:1:1. Ram withdrew ₹3,000 every month and Mohan withdrew ₹4,000 every month. Interest on drawings @ 6% p.a. was charged, whereas the partnership deed was silent about interest on drawings.

Showing your working clearly, pass the necessary adjustment entry to rectify the error.

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