Are you looking for the solution of Question number 7 of the Fundamentals of partnership firm chapter TS Grewal Book CBSE 2023-24 Edition?
Question number 7 of Accounting for Partnership Firms – Fundamentals is a theoretical one.
Solution of Question number 7 of Accounting for Partnership Firms – Fundamentals TS Grewal Book CBSE 2023-24 Edition
Here is the solution of it.
Sita and Geeta are partners in a firm sharing profits in the ratio of 3:2. They had given a loan to the firm of ₹ 30,000 in their profit sharing ratio on 1st October 2022. The partnership Deed is silent on interest on loans from partners. Compute interest payable by the firm to the partners, assuming the firm closes its books every year on 31st March.
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