[CBSE] Q. 20 DK Goel Fundamentals of Partnership [2024-25]

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Solution of Question Number 20 of the Fundamentals of partnership firm DK Goel CBSE Board (2024-25)

Radha and Rukmani are partners in a firm with fixed capitals of ₹ 2,00,000 and ₹ 3,00,000 respectively.

They share profits in the ratio of 1 : 2. Both partners are entitled to interest on capitals @ 8% per annum. In addition, Rukmani is entitled to a salary of ₹ 20,000 per month. Business is being carried from the property owned by Radha on a yearly rent of ₹ 1,20,000. Net Profit for the year ended 31st March 2024 before providing for rent was ₹ 5,50,000.

You are required to draw Profit & Loss Appropriation Account for the year ended 31st March, 2024.

[Ans. Share of Profit transferred to Radha’s Current A/c ₹ 50,000 and Rukmani’s Current A/c ₹ 1,00,000.]

Solution:-

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1Question – 1
2Question – 2
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60Question – 60(A), 60(B), 60 (C)
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110Question – 110
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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

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