[CBSE] Q. 65 DK Goel Fundamentals of Partnership [2024-25]

Solution of Question Number 65 of the Fundamentals of partnership firm DK Goel CBSE Board (2024-25).

A and B are partners in a firm sharing profits and losses in the ratio of 2 : 3. The following was the Balance Sheet of the firm as at 31.3.2024.

Liabilities	₹	Assets	₹
Capitals: A B	4,90,000 3,00,000	Sundry Assets	7,90,000
	7,90,000		7,90,00

Profits ₹ 2,00,00 for the year ended 31.3.2024 were divided between the partners without allowing interest on capital @ 6% p.a., interest on drawings @ 10% p.a. and salary to B @ ₹ 5,000 per month. During the year A withdrew ₹ 40,000 and B withdrew ₹ 20,00.

Showing your working notes clearly, pass the necessary rectifying entry.

Ans.

A’s Capital A/c Dr. 13,400
To B’s Capital A/c 13,400

Solution:-

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