Atul and Gita were partners in a firm sharing profits and losses in the ratio of $\displaystyle 3$:2. Their fixed capitals were ₹ $\displaystyle 4,00,000$ and ₹ $\displaystyle 2,00,000$ respectively. After the accounts for the year were prepared, it was noticed that interest on capital @ $\displaystyle 6$% p.a., as provided in the partnership deed, was not credited to the capital accounts of partners before distribution of profits. Pass the necessary adjusting Journal entry. Show your workings clearly.

Books of Atul and Gita Journal L.F Debit Credit Amount Amount Date Particulars (₹) (₹) Gita’s Current A/c Dr $\displaystyle 2,400$ To Atul’s Current A/c $\displaystyle 2,400$ (Adjustment for omission of Interest on Capital) $\displaystyle 8$ Working Notes:- Adjustment Table Particulars Atul Gita Dr (₹) Cr(₹) Dr(₹) Cr(₹) Interest on Capital to $\displaystyle 24,000$ $\displaystyle 12,000$ be credited Loss to be debited in $\displaystyle 21,600$ $\displaystyle 14,400$ the ratio of $\displaystyle 3$:$\displaystyle 2$ Net Effect $\displaystyle 2,400$ $\displaystyle 2,400$