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Qu 1 ut of Maali and Marwa are partners of Perfurme business sharing profit and...

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Accounting

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Qu 1 ut of Maali and Marwa are partners of Perfurme business sharing profit and loss in the ratio of 6:2. Their Balance Sheet as on 31/12/19 shows OMR 35,000 as Profit and Loss A/c in the liabilities side. On 31-12-2020 they admit mizna, on that date, their Balance Sheet showed an amount of OMR 15,000 as Profit and Loss A/c in the Asset side. On the same Balance Sheet an reserve fund of OMR 19500 were found. Record necessary journal entries in Maali and Marwa Perfume business. 10 ution Finis

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