[CBSE] Q. 69 DK Goel Fundamentals of Partnership [2026-27]
Solution of Question Number 69 of the Fundamentals of partnership firm DK Goel CBSE Board (2026-27)
Yamini, Divyanshi and Rohini are partners sharing profits in the ratio
3: 2: 1. Rohini is given guarantee that her share of profit in a year would be at least ₹ 1,20,000. Deficiency, if any, would be borne by Yamini and Divyanshi in the ratio of 5 : 4.
Other terms of partnership agreement are:
(i) Divyanshi and Rohini to get salary of ₹ 15,000 p.m. and ₹ 20,000 per quarter respectively.
(ii) Yamini to get commission of 2% on sales.
Net profit earned by the firm of ₹ 8,00,000 was distributed in the ratio of 2 : 1 : 1 without taking into consideration the above provisions. Sales for the year amounted to ₹ 45,00,000.
You are required to pass a single adjustment entry to rectify the error (show workings clearly).
Solution:-
