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Calculate the sara share of the profit

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Question - Sara, Sania and Samra entered into partnership on January 1, 2017 contributing Rs 40,000, Rs. 30,000 and Rs. 35,000. Sara invested Rs. 10,000 as additional capital on June 1, 2017, Sania invested Rs. 15,000 as additional capital on July 1, 2017 and Samra brought additional capital of Rs. 5,000 on September 1, 2017. They earned a profit of Rs. 10,000 during the year. Profits are to be shared in their capital ratio.

Required - Using the data given above, calculate the Sara, Sania and Samra share of the profit and pass the necessary journal entry.

Reference no: EM132610870

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