[CBSE] Q. 64 Solution of Fundamentals of Partnership Firms TS Grewal Book (2023-24)

Solution of Question number 64 of the Fundamentals of partnership firm chapter TS Grewal Book CBSE 2023-24 Edition

Profit earned by a partnership firm for the year ended 31st March 2023 were distributed equally between the partners – Pankaj and Anu – without charging interest on Drawings. Interest due on Drawings was Pankaj – ₹ 3,000 and Anu – ₹ 1,000.

Pass necessary adjustment entry.

[Ans: Debit Pankaj’s Capital A/c and Credit Anu’s Capital A/c by ₹ 1,000]

Solution:-

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