[CBSE] Q. 4 Solution of Fundamentals of Partnership Firms TS Grewal Book (2023-24)

Share your love

Solution of Question number 4 of the Fundamentals of Partnership firm chapter TS Grewal Book CBSE 2023-24 Edition?

Barun, Tarun, and Shivam are partners in a firm and do not have a partnership Deed. Barun introduced further capital of ₹ 5,00,000 on 1st October 2022. Whereas Shivam took a loan of ₹ 50,000 from the firm on 1st October 2022. Disputes have arisen among them on the following:

a) Barun demands interest @ 10% p.a. on ₹ 5,00,000 being his extra capital.

b) Tarun desires that his son Deep should be admitted as a partner and he
will give him half of his share. Barun and Shivam do not agree.

c) Barun and Tarun are of the view that Shivam should be charged interest
on loans from the firm at the lending rate of the banks, which is 12% p.a.

d) Tarun has withdrawn ₹ 50,000 from the firm for his personal use. Barun and Shivam are of the view that Tarun should be charged interest @ 10% p.a.

Give a Solution to each issue of dispute.

Solution:-

a) In the case of the absence of a Partnership deed. Provisions of the Indian Partnership Act 1932 would apply. No interest on capital would be allowed.

b) In the case of the absence of a partnership deed. Provisions of the Indian Partnership Act 1932 would apply. Tarun’s son Deep would not be admitted. as all partners do not agree.

c) In the case of the absence of a Partnership deed. Provisions of the Indian Partnership Act 1932 would apply. No interest on a loan to Shivam from the firm is charged

d) In the case of the absence of a partnership deed. Provisions of the Indian Partnership Act 1932 would apply. No interest on drawing would be charged

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
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: 7052

Leave a Reply

Your email address will not be published.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

x