[CBSE] Q. 71 solution of Fundamentals of Partnership Firms TS Grewal Book 2022-23 Edition

Share your love

Solution of Question number 71 of the Fundamentals of partnership firm chapter TS Grewal Book CBSE 2022-23 Edition?

On 31st March 2014, the balances in the capital accounts of Saroj, Mahinder, and Umar after making adjustments for profits and drawings, etc., were ₹ 80,000, ₹ 60,000, and ₹ 40,000 respectively. Subsequently, it was discovered that the interest on capital and drawings has been omitted.

a) The profit for the year ended 31st March 2014 was ₹ 80,000.

b) During the year Saroj and Mahiner each withdrew a sum of ₹ 24,000 in equal installments at the end of each month and Umar withdrew ₹ 36,000.

c) The interest on drawings was to be charged @ 5% p.a. and interest on capital was to be allowed @ 10% p.a.

d) The profit-sharing ratio among partners was 4 :3 : 1.

Showing your workings clearly, pass the necessary rectifying entry.

[Ans.: Dr. Saroj’s Capital A/c by ₹ 2,350 and Mahiner’s Capital A/c by ₹ 1,300; Cr. Umar’s Capital A/c ₹ 3,650]

Solution:-

Here is the list of all Solutions.

S.NQuestions
1.Question – 1
2.Question – 2
3.Question – 3
4.Question – 4
5.Question – 5
6.Question – 6
7.Question – 7
8.Question – 8
9.Question – 9
10.Question – 10
S.NQuestions
11.Question – 11
12.Question – 12
13.Question – 13
14.Question – 14
15.Question – 15
16.Question – 16
17.Question – 17
18.Question – 18
19.Question – 19
20.Question – 20
S.NQuestions
21.Question – 21
22.Question – 22
23.Question – 23
24.Question – 24
25.Question – 25
26.Question – 26
27.Question – 27
28.Question – 28
29.Question – 29
30.Question – 30
S.NQuestions
21.Question – 21
22.Question – 22
23.Question – 23
24.Question – 24
25.Question – 25
26.Question – 26
27.Question – 27
28.Question – 28
29.Question – 29
30.Question – 30
S.NQuestions
31.Question – 31
32.Question – 32
33.Question – 33
34.Question – 34
35.Question – 35
36.Question – 36
37.Question – 37
38.Question – 38
39.Question – 39
40.Question – 40
S.NQuestions
41.Question – 41
42.Question – 42
43.Question – 43
44.Question – 44
45.Question – 45
46.Question – 46
47.Question – 47
48.Question – 48
49.Question – 49
50.Question – 50
S.NQuestions
51.Question – 51
52.Question – 52
53.Question – 53
54.Question – 54
55.Question – 55
56.Question – 56
57.Question – 57
58.Question – 58
59.Question – 59
60.Question – 60
S.NQuestions
61.Question – 61
62.Question – 62
63.Question – 63
64.Question – 64
65.Question – 65
66.Question – 66
67.Question – 67
68.Question – 68
69.Question – 69
70.Question – 70
S.NQuestions
71.Question – 71
72.Question – 72
73.Question – 73
74.Question – 74
75.Question – 75
76.Question – 76
77.Question – 77
78.Question – 78
79.Question – 79
80.Question – 80
S.NQuestions
81.Question – 81
82.Question – 82
83.Question – 83
84.Question – 84
85.Question – 85
86.Question – 86
87.Question – 87
88.Question – 88
Share your love
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.

Articles: 6105

Leave a Reply

Your email address will not be published. Required fields are marked *

close

Ad Blocker Detected!

Our Website is made possible by displaying online advertisements to our visitors. Please consider supporting us and remove the AD - Blocker to read this article.

Refresh