question_answer

You are required to answer the following questions 51 to 54 :

Four friends, A, B, C and D were working in a company, after their retirement they started a business in partnership. They are sharing profits and losses in the ratio of 4:3:3:2. Their fixed capitals on 31st March 2021 were Rs.60,000; Rs.90,000 ; Rs.1,20,000 and Rs.90,000. After closing the accounts for the year ending 31st March 2021, it was discovered that interest on capital @ 12% p.a. was not allowed and interest on drawings @10% p.a. was not charged.

Drawings of the partners during the year: A Rs.40,000; B Rs.50,000; C Rs.30,000 and D Rs.20,000.

While passing the adjustment entry, B's Current Account will be:

A) Debited by Rs.6,867

B) Credited by Rs.750

C) Debited by 3,767

D) Debited by Rs.750