[CBSE] Q. 23 DK Goel Fundamentals of Partnership [2024-25]

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Solution of Question Number 23 of the Fundamentals of partnership firm DK Goel CBSE Board (2024-25)

X and Y are partners in a firm sharing profits and losses in the ratio of 3 : 2 with capitals of ₹ 10,00,000 and ₹ 5,00,00 respectively. As per the partnership deed, they are to be allowed interest on capital @ 8% p.a. The net profit for the year ended 31st March, 2023 before providing for interest on capital amounted to ₹ 45,000. Show the distribution of profit.

[Ans. Interest on capital allowed to X ₹ 30,000 and Y ₹ 15,000.]

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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