[CBSE] Q. 73 DK Goel Fundamentals of Partnership [2026-27]
Solution of Question Number 73 of the Fundamentals of partnership firm DK Goel CBSE Board (2026-27)
D, E and F were partners in a firm sharing profits in the ratio of 5 : 7 : 8. Their fixed capitals on 1st April, 2023 were D ₹ 5,00,000, E ₹ 7,00,000 and F ₹ 8,00,000. Their partnership Deed provided for the following:
(i) Interest on capital @ 10% p.a.
(ii) Salary of ₹ 10,000 per month to F.
(iii) Interest on drawings @ 12% p.a.
D withdrew ₹ 40,000 on 30th April, 2023; E withdrew ₹ 50,000 on 30th June 2023 and F withdrew ₹ 30,000 on 31st March, 2024.
During the year ended 31st March, 2024 the firm earned a profit of ₹ 3,50,000.
Prepare the Profit and Loss Appropriation Account for the year ended 31st March, 2024.
[Ans. Share of Profit D ₹ 9,725; E ₹ 13,615 and F ₹ 15,560.]
Solution:-
