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

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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.

LiabilitiesAssets
Capitals:
A
B
6,00,000
4,00,000
Sundry Assets10,00,000
10,00,00010,00,000

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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60Question – 60(A), 60(B), 60 (C)
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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 and can download the Android & ios app for free lectures.

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