[CBSE] Q. 35 DK Goel Fundamentals of Partnership [2024-25]

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Solution of Question Number 35 of the Fundamentals of partnership firm DK Goel CBSE Board (2024-25)

A and B contribute ₹ 4,00,000 and ₹ 3,00,000 respectively as their capitals. They decided to allow interest on capital @ 8% p.a. Their respective share of profit is 3 : 2 and the profit for the year is ₹ 42,000 before allowing for interest on capitals. Show the distribution of profits (i) Where there is no agreement except for interest on capitals, and (ii) Where there is a clear agreement that the interest on capitals will be allowed even if it involves the firm in loss.

[Ans. In first case, Interest on Capital A ₹ 24,000 and B ₹ 18,000. In Second case, Loss A ₹ 8,400 and B ₹ 5,600.]

Solution:-

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60Question – 60(A), 60(B), 60 (C)
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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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