[CBSE] Q. 3 Solution Fundamentals of Partnership Firms DK Goyal [2023-24]

Are you looking for the solution of Question Number 3 of the Fundamentals of partnership firm chapter DK Goyal Book 2023-24 Edition?

I have given Solutions of Practical Questions number 3 of the Accounting for partnership firm Fundamentals chapter of DK Goyal CBSE Board 2023-24 Edition.

Solution of Question number 3 of Accounting for Partnership Firms – Fundamentals DK Goyal 2023-24

Q. 3

X, Y, and Z are partners in a firm. Their Capitals as on April 1. 2022 were ₹ 5,00,000; ₹ 4,00,000 and ₹ 3,00,000 respectively. On July 1, 2022, they introduced further capital of ₹ 1,00,000; ₹ 80,000, and ₹ 50,000 respectively. On February 1, 2023, Y withdrew ₹ 15,000 from his Capital. Interest is to be allowed @ 8% p.a. on the Capitals. Compute interest on Capitals for the year ending March 31, 2023.

[Ans: Interest on Capitals: X ₹ 46,000; Y ₹ 36,000 and Z ₹ 27,000.]

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