[CBSE] Q. 28 Solution of Fundamentals of Partnership Firms TS Grewal Book (2023-24)

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Solution of Question number 28 of the Fundamentals of partnership firm chapter TS Grewal Book CBSE 2023-24 Edition.

A and B are partners in the ratio of 3 : 2. The firm maintains Fluctuating Capital Accounts and the balance of the same as on 31st March 2020 amounted to ₹ 1,60,000 ad ₹ 1,40,000 for A and B respectively. Their drawings during the year were ₹ 30,000 each.

As per Partnership Deed, interest on capital @ 10% p.a. on opening capitals had been provided to them.

Calculate the opening capital of partners given that their profit was ₹ 90,000. Show your working clearly.

[Ans: Opening Capital: A – ₹ 1,38,364; B – ₹ 1,31,636]

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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