[CBSE] Q. 106 DK Goel Fundamentals of Partnership [2026-27]
Solution of Question Number 106 of the Fundamentals of partnership firm DK Goel CBSE Board (2026-27)
Anshul, Navdeep and Rajni were partners of a Chartered Accountants firm with profit sharing ratio of 2 : 1 : 2. The provisions of partnership deed were as follows :
(i) Rent of₹25,000 p.m. was to be given to Rajni.
(ii) Salary of 30,000 p.m. to Anshul.
(iii) Navdeep was guaranteed a minimum profit of 4,00,000 and deficiency arising because of guarantee to Navdeep will be borne by Anshul and Rajni in the ratio of 12: 7.
(iv) Anshul guaranteed that he will earn an annual fee of *3,00,000.
The net profit earned by the firm amounted to 20,00,000 and the fee earned by Anshul during the year ended 31st March, 2024 was *2,25,000.
Prepare profit & Loss Appropriation Account and the Capital Accounts of partners for the year ended 31st March, 2024.
[Ans. Share of Profit : Anshul 6,50,000; Navdeep4,00,000 and Rajni
₹6,65,000.]
Solution:-
