Homework Help: accounting..please help

Posted by jessie on Monday, May 30, 2011 at 6:43pm.

can you help me please for this solving problem below...

problem:

A, B and C shared the profit of Rs. 9,00,000 in the ratio of 2:2:1 without providing for interest on B’s loan, B granted a loan of Rs. 4,00,000 in the beginning of accounting year. Where as the partnership deed is silent on the interest on loan and the profit sharing ratio. Give adjusting entry.

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