[CBSE] Q. 106 DK Goel Fundamentals of Partnership [2024-25]

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Solution of Question Number 106 of the Fundamentals of partnership firm DK Goel CBSE Board (2024-25).

Piya and Bina are partners in a firm sharing profits and losses in the ratio of 3 : 2. Following was the Balance Sheet of the firm as on 31-3-2016:

LiabilitiesAssets
Capitals:
Piya
Bina
80,000
40,000
Sundry Assets1,20,000
1,20,0001,20,000

The profits ₹ 30,000 for the year ended 31-3-2016 were divided between the partners without allowing interest on capital @ 12% p.a. and salary to Piya @ ₹ 1,000 per month. During the year Piya withdrew ₹ 8,000 and Bina withdrew ₹ 4,000. Showing your working notes clearly, pass the necessary rectifying entry.

Ans:

Bina’s Capital A/c Dr. 5,856
To Piya’s Capital A/c 5,856

Solution:-

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Anurag Pathak
Anurag Pathak

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