[CBSE] Q. 64 DK Goel Fundamentals of Partnership [2024-25]

Solution of Question Number 64 of the Fundamentals of partnership firm DK Goel CBSE Board (2024-25).

A and B are partners in a firm sharing profits and losses in the ratio of 2 : 1. The following was the Balance Sheet of the firm as at 31.3.2024.

Liabilities	₹	Assets	₹
Capitals: A B	6,00,000 4,00,000	Sundry Assets	10,00,000
	10,00,000		10,00,000

The profits ₹ 4,50,000 for the year ended 31.3.2024 were divided between the partners without allowing interest on capital @ 9% p.a. and without charging interest on drawings @ 12% p.a. During the year A withdrew ₹ 1,00,000 and B ₹ 50,00.

Pass the necessary adjustment journal entry and show your working clearly.

Ans

A’s Capital A/c Dr. 6,000
To B’s Capital A/c 6,000

Solution:-

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