[CBSE] Q. 6 DK Goel Fundamentals of Partnership [2026-27]

Solution of Question Number 6 of the Fundamentals of partnership firm DK Goel CBSE Board (2026-27)

Asha and Lata are partners sharing profits in the ratio of 1 : 2. Asha is entitled to a salary of ₹ 2,00,000 p.a. and a commission of 8% of net profit before charging any commission. Lata is entitled to a commission of 8% of net profit after charging her commission. Net Profit for the year ended 31st March, 2024 amounted to ₹ 5,40,000.

Prepare Profit & Loss Appropriation Account.

[Ans. Share of Profit : Asha ₹ 85,600 and Lata ₹ 1,71,200.]

Solution:-