[CBSE] Q. 63 DK Goel Fundamentals of Partnership [2024-25]

Solution of Question Number 63 of the Fundamentals of partnership firm DK Goel CBSE Board (2024-25).

Kaveri and Tapti are partners sharing profits in the ratio of 2 : 1. Following particulars are obtained from their books:

(i) Closing Capitals as on 31st March, 2023 were Kaveri ₹ 6,15,000 and Tapti ₹ 3,60,000 after all adjustments as per partnership deed.

(ii) Drawings during the year were : Kaveri ₹ 10,000 per month and Tapti ₹ 15,000 per quarter.

(iii) Interest on Capital is allowed to them as per partnership deed @ 5% p.a. on Opening Capitals.

(iv) Divisible profit during the year was ₹ 3,15,000.

Calculate the Opening Capitals of partners.

[Ans. Opening Capitals : Kaveri ₹ 5,00,000 and Tapti ₹ 3,00,000.]

Solution:-

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