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Home Questions OC08QJH9JT
Target Exam

CUET

Subject

Accountancy Part A

Chapter

Accounting for Partnership

Question:

Ramesh and Naresh are equal partners. Their capitals as on April 01, 2025 were Rs. 50,000 and Rs. 1,00,000 respectively. After the accounts for the financial year ending March 31, 2026 have been prepared, it is discovered that interest at the rate of 6 per cent per annum, as provided in the partnership deed has not been credited to the partners’ capital accounts.

Choose the correct adjusting entry from the options given below.

Options:
Particular’sDr AmountCr Amount
Ramesh’s Capital A/c    Dr.1,500
    To Naresh’s Capital A/c1,500
Particular’sDr AmountCr Amount
Naresh’s Capital A/c    Dr.1,500
    To Ramesh’s Capital A/c1,500
Particular’sDr AmountCr Amount
Ramesh’s Capital A/c    Dr.4,500
    To Naresh’s Capital A/c4,500
Particular’sDr AmountCr Amount
Naresh’s Capital A/c    Dr.4,500
    To Ramesh’s Capital A/c4,500
Correct Answer:
Particular’sDr AmountCr Amount
Ramesh’s Capital A/c    Dr.1,500
    To Naresh’s Capital A/c1,500
Explanation:

The correct answer is Option (1) → 

Particular’sDr AmountCr Amount
Ramesh’s Capital A/c    Dr.1,500
    To Naresh’s Capital A/c1,500

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