[CBSE] Q. 22 DK Goel Fundamentals of Partnership [2024-25]

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Solution of Question Number 22 of the Fundamentals of partnership firm DK Goel CBSE Board (2024-25)

A and B are partners in a firm sharing profits in the ratio of 1 : 2. Their capitals on 1st April 2023 were ₹ 4,00,000 and ₹ 6,00,000 respectively. As per partnership deed, A is to get a monthly salary of ₹ 15,000 and interest on capitals is to be provided @ 10% p.a. and charged on drawings @ 12% p.a. During the year A withdrew ₹ 30,000 and B withdrew ₹ 50,000.

The firm incurred a loss of ₹ 60,000 during the year ended 31st March, 2024 before above adjustments. You are required to prepare an account showing the distribution of Profit/Loss.

[Ans. Share of Loss A ₹ 18,400 and B ₹ 36,800.]

Solution:-

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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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