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

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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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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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