[CBSE] Q. 10 Solution of Fundamentals of Partnership Firms TS Grewal Book (2024-25)

Share your love

Solution of Question number 10 of the Fundamentals of partnership firm chapter TS Grewal Book CBSE 2024-25.

Akhil and Bimal are partners sharing profits in the ratio of 3 : 2. Akhil gave a loan to the firm of ₹ 1,00,000 on 1st January 2024. On the same date, the firm gave a loan to Bimal of ₹ 1,00,000. They do not have an agreement as to interest.

Akhil had also given his personal property for the firm’s godown at a monthly rent of ₹ 5,000.

Firm earned a profit of ₹ 1,03,000 (before the above adjustments) for the year ended 31st March 2024. Show the distribution of profit for the year.

[Ans: ₹ 41,500 [(₹ 1,03,000 – ₹ 1,500) (Interest on Loan by Akhil) – ₹ 60,000 (rent) will be distributed in the ratio of 3 : 2. Akhil – ₹ 24,900; Bimal – ₹ 16,600.]

[Hint: In the absence of agreement, Akhil will get Interest @ 6% p.a. on the loan given by him. Interest will not be charged on the loan to Bimal by the firm. Also, rent will be paid to Akhil as per the agreement.

Solution:-

Note:- Distributable profit can also be written as divisible profit.

Here is the list of all Solutions.

S.NQuestions
1Question – 1
2Question – 2
3Question – 3
4Question – 4
5Question – 5
6Question – 6
7Question – 7
8Question – 8
9Question – 9
10Question – 10
S.NQuestions
11Question – 11
12Question – 12
13Question – 13
14Question – 14
15Question – 15
16Question – 16
17Question – 17
18Question – 18
19Question – 19
20Question – 20
S.NQuestions
21Question – 21
22Question – 22
23Question – 23
24Question – 24
25Question – 25
26Question – 26
27Question – 27
28Question – 28
29Question – 29
30Question – 30
S.NQuestions
31Question – 31
32Question – 32
33Question – 33
34Question – 34
35Question – 35
36Question – 36
37Question – 37
38Question – 38
39Question – 39
40Question – 40
S.NQuestions
41Question – 41
42Question – 42
43Question – 43
44Question – 44
45Question – 45
46Question – 46
47Question – 47
48Question – 48
49Question – 49
50Question – 50
S.NQuestions
51Question – 51
52Question – 52
53Question – 53
54Question – 54
55Question – 55
56Question – 56
57Question – 57
58Question – 58
59Question – 59
60Question – 60
S.NQuestions
61Question – 61
62Question – 62
63Question – 63
64Question – 64
65Question – 65
66Question – 66
67Question – 67
68Question – 68
69Question – 69
70Question – 70
S.NQuestions
71Question – 71
72Question – 72
73Question – 73
74Question – 74
75Question – 75
76Question – 76
77Question – 77
78Question – 78
79Question – 79
80Question – 80
S.NQuestions
81Question – 81
82Question – 82
83Question – 83
84Question – 84
85Question – 85
86Question – 86
87Question – 87
88Question – 88
89Question – 89
90Question – 90
S.NQuestions
91Question – 91
92Question – 92
93Question – 93
94Question – 94
95Question – 95
96Question – 96
97Question – 97
Share your love
Anurag Pathak
Anurag Pathak

Anurag Pathak is an academic teacher. He has been teaching Accountancy and Economics for CBSE students for the last 18 years. In his guidance, thousands of students have secured good marks in their board exams and legacy is still going on. You can subscribe his Youtube channel for free lectures

Articles: 7087

Leave a Reply

Your email address will not be published. Required fields are marked *

x