[CBSE] Q. 29 solution of Fundamentals of Partnership Firms TS Grewal Book (2024-25)

Share your love

Solution of Question number 29 of the Fundamentals of partnership firm chapter TS Grewal Book CBSE 2024-25 Edition?

Following is the extract of the Balance Sheet of Neelkant and Mahadev as on 31st March 2024:

Balance Sheet as at 31st March, 2024

LiabilitiesAssets
Neelkant’s Capital
Mahadev’s Capital
Neelkant’s Current A/c
Mahadev’s Current A/c
Profit & Loss A/c (2023-24)
10,00,000
10,00,000
1,00,000
1,00,000
8,00,000
Sundry Assets30,00,000
30,00,00030,00,000

During the year, Mahadev’s drawings were ₹ 30,000. Profit during the year ended 31st March 2024 is ₹ 10,00,000. Calculate interest on capital @ 5% p.a. for the year ending 31st March 2024.

[Ans: Interest on Capital: Neelkant – ₹ 50,000; Mahadev – ₹ 50,000]

Solution:-

Here is the list of all Solutions.

S.NQuestions
1Question – 1
2Question – 2
3Question – 3
4Question – 4
5Question – 5
6Question – 6
7Question – 7
8Question – 8
9Question – 9
10Question – 10
S.NQuestions
11Question – 11
12Question – 12
13Question – 13
14Question – 14
15Question – 15
16Question – 16
17Question – 17
18Question – 18
19Question – 19
20Question – 20
S.NQuestions
21Question – 21
22Question – 22
23Question – 23
24Question – 24
25Question – 25
26Question – 26
27Question – 27
28Question – 28
29Question – 29
30Question – 30
S.NQuestions
31Question – 31
32Question – 32
33Question – 33
34Question – 34
35Question – 35
36Question – 36
37Question – 37
38Question – 38
39Question – 39
40Question – 40
S.NQuestions
41Question – 41
42Question – 42
43Question – 43
44Question – 44
45Question – 45
46Question – 46
47Question – 47
48Question – 48
49Question – 49
50Question – 50
S.NQuestions
51Question – 51
52Question – 52
53Question – 53
54Question – 54
55Question – 55
56Question – 56
57Question – 57
58Question – 58
59Question – 59
60Question – 60
S.NQuestions
61Question – 61
62Question – 62
63Question – 63
64Question – 64
65Question – 65
66Question – 66
67Question – 67
68Question – 68
69Question – 69
70Question – 70
S.NQuestions
71Question – 71
72Question – 72
73Question – 73
74Question – 74
75Question – 75
76Question – 76
77Question – 77
78Question – 78
79Question – 79
80Question – 80
S.NQuestions
81Question – 81
82Question – 82
83Question – 83
84Question – 84
85Question – 85
86Question – 86
87Question – 87
88Question – 88
89Question – 89
90Question – 90
S.NQuestions
91Question – 91
92Question – 92
93Question – 93
94Question – 94
95Question – 95
96Question – 96
97Question – 97
Share your love
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

Articles: 7152

Leave a Reply

Your email address will not be published. Required fields are marked *

x