[CBSE] Q. 21 DK Goel Fundamentals of Partnership [2026-27]
Solution of Question Number 21 of the Fundamentals of partnership firm DK Goel CBSE Board (2026-27)
Parul and Rajul were partners in a firm, sharing profits and losses in the ratio of 5: 3. The balance in their fixed capital accounts on 1st April, 2023 were: Parul ₹6,00,000 and Rajul 8,00,000. The partnership deed provided for allowing interest on capital at 12% per annum.
The net profit of the firm for the year ended 31st March, 2024 was ₹1,26,000.
Prepare Profit and Loss Appropriation Account for the year ended 31st
March, 2024. Show your working clearly. (CBSE 2025, U.P., Rajasthan)
[Ans. Interest on capital allowed to Parul ₹54,000 and Rajul ₹72,000.]
Solution:-
