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

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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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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 for free lectures

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