[CBSE]Q. 9 solution of Fundamentals of Partnership Firms DK Goel 2022-23

Solution to Question number 9 of the Fundamentals of partnership firm chapter DK Goel Book 2022-23 Edition?

Y and Z are partners with capitals of ₹ 25,000 and ₹ 15,000 respectively on 1st April, 2020. Each partner is entitled to 9% p.a. Interest on his capital. Z is entitled to a salary of ₹ 6,000 p.a. together with a commission of 6% of net profit remaining after deducting interest on capitals and salary and after charging his commission. The profits for the year ended 31st March, 2021 before making any of the above mentioned adjustments amount to ₹ 30,800. Prepare Prtner’s Capital Accounts : (i) When capitals are fixed, and (ii) When capitals are fluctuating.

[Ans. Divisible Profits ₹ 20,000.]

Solution:-