[CBSE] Q. 47 DK Goel Fundamentals of Partnership [2024-25]

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Solution of Question Number 47of the Fundamentals of partnership firm DK Goel CBSE Board (2024-25).

A and B were partners sharing profits in 2 : 1 ratio. During the year ended 31st March, 2023, A’s drawings were ₹ 50,000 per month drawn in the beginning of every month and B’s drawings were ₹ 25,000 per month drawn at the end of every month. After the preparation of final accounts, it was discovered that interest on A’s drawings @ 12% p.a. was not taken into consideration. Give the necessary adjusting entry on 1st April, 2023.

Ans.

A’s Capital A/c Dr. 13,000
To B’s Capital A/c 13,000

Solution:-

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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 and can download the Android & ios app for free lectures.

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