[CBSE] Q. 18 DK Goel Fundamentals of Partnership [2026-27]
Solution of Question Number 18 of the Fundamentals of partnership firm DK Goel CBSE Board (2026-27)
Divyanshi and Bhawna entered into a partnership firm on 1st July, 2025, with capitals of 6,50,000 and ₹2,70,000 respectively sharing profits in the ratio of 2: 1.
The terms of Partnership Deed were as follows:
(i) Interest on capital to be allowed @ 6% p.a.
(ii) 4% of the Net Profit to be provided as commission to Bhawna before charging such commission.
(iii) Bhawna is entitled to a rent of 5,000 p.m. for allowing the firm to carry on the business in her premises.
(iv) Interest on loan advanced by a partner to the firm @ 10% р.a.
Divyanshi advanced a loan of 3,00,000 to the firm on Ist January, 2026. The firm earned a net profit of ₹2,40,000 after considering all charges against profits.
Pass Journal Entries for the year ended 31st March, 2026.
[Ans. Divisible Profit1,89,000]
Solution:-
