[CBSE] Q. 73 Solution of Fundamentals of Partnership Firms TS Grewal Book (2024-25)

Share your love

Solution of Question number 73 of the Fundamentals of partnership firm chapter TS Grewal Book CBSE 2024-25 Edition.

Mudit, Sudhir, and Uday are partners in a firm sharing profits in the ratio of 3 : 1 : 1. Their fixed capital balances are ₹ 4,00,000, ₹ 1,60,000, and ₹ 1,20,000 respectively. Net Profit for the year ended 31st March 2018 distributed amongst the partners was ₹ 1,00,000, without taking into account the following adjustments:

a) Interest on Capitals @ 2.5% p.a.

b) Salary to Mudit ₹ 18,000 p.a. and commission to uday ₹ 12,000.

c) Mudit was allowed a commission of 6% of divisible profit after charging such commission.

Pass a rectifying Journal entry in the books of the firm. Show workings clearly.

[Ans.: Dr. Sudhir’s Current A/c by ₹ 6,000; Cr. Mudit’s Current A/c by ₹ 1,000 and Uday’s Current A/c by ₹ 5,000.]

Solution:-

Here is the list of all Solutions.

S.NQuestions
1Question – 1
2Question – 2
3Question – 3
4Question – 4
5Question – 5
6Question – 6
7Question – 7
8Question – 8
9Question – 9
10Question – 10
S.NQuestions
11Question – 11
12Question – 12
13Question – 13
14Question – 14
15Question – 15
16Question – 16
17Question – 17
18Question – 18
19Question – 19
20Question – 20
S.NQuestions
21Question – 21
22Question – 22
23Question – 23
24Question – 24
25Question – 25
26Question – 26
27Question – 27
28Question – 28
29Question – 29
30Question – 30
S.NQuestions
31Question – 31
32Question – 32
33Question – 33
34Question – 34
35Question – 35
36Question – 36
37Question – 37
38Question – 38
39Question – 39
40Question – 40
S.NQuestions
41Question – 41
42Question – 42
43Question – 43
44Question – 44
45Question – 45
46Question – 46
47Question – 47
48Question – 48
49Question – 49
50Question – 50
S.NQuestions
51Question – 51
52Question – 52
53Question – 53
54Question – 54
55Question – 55
56Question – 56
57Question – 57
58Question – 58
59Question – 59
60Question – 60
S.NQuestions
61Question – 61
62Question – 62
63Question – 63
64Question – 64
65Question – 65
66Question – 66
67Question – 67
68Question – 68
69Question – 69
70Question – 70
S.NQuestions
71Question – 71
72Question – 72
73Question – 73
74Question – 74
75Question – 75
76Question – 76
77Question – 77
78Question – 78
79Question – 79
80Question – 80
S.NQuestions
81Question – 81
82Question – 82
83Question – 83
84Question – 84
85Question – 85
86Question – 86
87Question – 87
88Question – 88
89Question – 89
90Question – 90
S.NQuestions
91Question – 91
92Question – 92
93Question – 93
94Question – 94
95Question – 95
96Question – 96
97Question – 97
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 for free lectures

Articles: 7061

Leave a Reply

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

x