[CBSE] Q. 48 DK Goel Fundamentals of Partnership [2024-25]

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Solution of Question Number 48 of the Fundamentals of partnership firm DK Goel CBSE Board (2024-25).

Anil, Sunil and Sanjay have omitted interest on Capitals for two years ended on 31st March, 2023. Their fixed capitals in two years were Anil ₹ 8,00,000, Sunil ₹ 7,00,00 and Sanjay ₹ 3,00,000. Rate of interest on Capital is 10% p.a. Their profit sharing ratios were in first year 4 : 3 : 2 and in second year 3 : 2 : 1.

Give necessary adjusting entry at the beginning of next year.

[Ans. Current A/cs of Anil & Sanjay will be debited by ₹ 10,000 each and Current A/c of Sunil will be Credited by ₹ 20,000.]

Solution:-

Here is the complete index of solutions

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60Question – 60(A), 60(B), 60 (C)
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110Question – 110
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Anurag Pathak
Anurag Pathak

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