[CBSE] Q. 50 DK Goel Fundamentals of Partnership [2026-27]
Solution of Question Number 50 of the Fundamentals of partnership firm DK Goel CBSE Board (2026-27)
Suresh and Ramesh were partners in a firm sharing profits in the ratio of 3 : 2. Their fixed capitals were : Suresh ₹ 9,00,000 and Ramesh ₹ 6,00,000. The partnership deed provided for the following:
(i) Interest on capital @ 5% per annum.
(ii) ₹ 60,000 per annum salary to Suresh and Salary ₹ 2,000 per month to Ramesh. The profit earned by the firm for the year ended 31.3.2024 was ₹ 2,34,000.
The profits were divided equally without providing for the above.
Pass adjustment entry
Ans:
Ramesh’s Current A/c Dr. 33,000
To Suresh’s Current A/c 33,000
Solution:-
