[CBSE] Q. 42 DK Goel Fundamentals of Partnership [2024-25]

Solution of Question Number 42 of the Fundamentals of partnership firm DK Goel CBSE Board (2024-25).

A, B, C and D are partners sharing profits in 2 : 2 : 1 : 1. They distributed the profit for the year ending 31st March, 2023, ₹ 9,00,000 without providing for the following:

(i) Salary to A @ 15,000 per month.

(ii) Salary to B and D @ ₹ 30,000 per quarter to each partner.

Give necessary adjusting journal entry.

Ans.

B’s Capital A/c Dr. C’s Capital A/c Dr.	20,000 70,000
To A’s Capital A/c To D’s Capital A/c	40,000 50,000

Solution:-

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