Anvi, Vani and Kazan were partners in a firm sharing profits in the ratio of $\displaystyle 2$ : $\displaystyle 2$ : 1. Their fixed capitals were ₹ $\displaystyle 4,00,000$, ₹ $\displaystyle 5,00,000$ and ₹ $\displaystyle 6,00,000$ respectively. For the year ended 31st March, $\displaystyle 2023$, interest on capital was credited to the partners capital accounts @ $\displaystyle 6$% p.a. instead of $\displaystyle 10$% p.a. Pass the necessary adjusting Journal entry.

Books of Anvi, Vani and Karan Journal Date Particulars LF Dr. Cr. Amount Amount (₹) (₹) Anvi’s Current A/c Dr. $\displaystyle 8,000$ Vani’s Current A/c Dr. $\displaystyle 4,000$ To Karan’s Current A/c $\displaystyle 12,000$ (Interest on capital credited less, now rectified) Working Notes: Table showing adjustment Partners Cr. Interest on Cr. Profits Net Effect Capital Dr. Cr. @$\displaystyle 4$% (₹) (₹) (₹) (₹) Anvi $\displaystyle 16,000$ $\displaystyle 24,000$ $\displaystyle 8,000$ - Vani $\displaystyle 20,000$ $\displaystyle 24,000$ $\displaystyle 4,000$ - Karan $\displaystyle 24,000$ $\displaystyle 12,000$ - $\displaystyle 12,000$ $\displaystyle 60,000$ $\displaystyle 60,000$ $\displaystyle 12,000$ $\displaystyle 12,000$