[CBSE] Q. 16 DK Goel Fundamentals of Partnership [2024-25]
Solution of Question Number 16 of the Fundamentals of partnership firm DK Goel CBSE Board (2024-25)
A, B and C are partners in a firm sharing profits and losses equally. On 1st April, 2023 their fixed capitals were ₹ 8,00,000, ₹ 6,00,000 and ₹ 6,00,000 respectively. On 1st October 2023, A advanced ₹ 1,00,000 to the firm whereas C took a loan of ₹ 1,50,000 from the firm on the same date. It was agreed among the partners that C will pay interest @ 10% p.a.
Profit for the year ended 31st March, 2024 amounted to ₹ 4,20,000 before allowing or charging interest on loans. Pass Journal entries for interest on loans and prepare Current Accounts of the partners.
[Ans. Divisible Profit ₹ 4,24,500; Current Account Balances : A ₹ 1,41,500 (Cr.); B ₹ 1,41,500 (Cr). and C ₹ 1,34,000 (Cr.)]
Hint. Interest on Loan by A will not be credited to his Current Account. It will be credited to his Loan A/c.
Solution:-
Here is the complete index of solutions
| S.N | Questions |
| 1 | Question – 1 |
| 2 | Question – 2 |
| 3 | Question – 3 |
| 4 | Question – 4 |
| 5 | Question – 5 |
| 6 | Question – 6 |
| 7 | Question – 7 |
| 8 | Question – 8 |
| 9 | Question – 9 |
| 10 | Question – 10 |
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| 11 | Question – 11 |
| 12 | Question – 12 |
| 13 | Question – 13 |
| 14 | Question – 14 |
| 15 | Question – 15 |
| 16 | Question – 16 |
| 17 | Question – 17 |
| 18 | Question – 18 |
| 19 | Question – 19 |
| 20 | Question – 20 |
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| 21 | Question – 21 |
| 22 | Question – 22 |
| 23 | Question – 23 |
| 24 | Question – 24 |
| 25 | Question – 25 |
| 26 | Question – 26 |
| 27 | Question – 27 |
| 28 | Question – 28 |
| 29 | Question – 29 |
| 30 | Question – 30 |
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| 31 | Question – 31 |
| 32 | Question – 32 |
| 33 | Question – 33 |
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| 37 | Question – 37 |
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| 39 | Question – 39 |
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| 41 | Question – 41 |
| 42 | Question – 42 |
| 43 | Question – 43 |
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| 51 | Question – 51 |
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| 54 | Question – 54 |
| 55 | Question – 55 |
| 56 | Question – 56 |
| 57 | Question – 57 |
| 58 | Question – 58 |
| 59 | Question – 59 |
| 60 | Question – 60(A), 60(B), 60 (C) |
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| 61 | Question – 61 |
| 62 | Question – 62 |
| 63 | Question – 63 |
| 64 | Question – 64 |
| 65 | Question – 65 |
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| 81 | Question – 81 |
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| 88 | Question – 88 |
| 89 | Question – 89 |
| 90 | Question – 90 |
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| 91 | Question – 91 |
| 92 | Question – 92 |
| 93 | Question – 93 |
| 94 | Question – 94 |
| 95 | Question – 95 |
| 96 | Question – 96 |
| 97 | Question – 97 |
| 98 | Question – 98 |
| 99 | Question – 99 |
| 100 | Question – 100 |
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| 101 | Question – 101 |
| 102 | Question – 102 |
| 103 | Question – 103 |
| 104 | Question – 104 |
| 105 | Question – 105 |
| 106 | Question – 106 |
| 107 | Question – 107 |
| 108 | Question – 108 |
| 109 | Question – 109 |
| 110 | Question – 110 |
