[CBSE] Q. 77 DK Goel Fundamentals of Partnership [2024-25]

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Solution of Question Number 77 of the Fundamentals of partnership firm DK Goel CBSE Board (2024-25).

A, B and C entered into partnership on 1st July, 2023 to share profit and losses in the ratio of 5 : 3 : 2. A personally guaranteed that C’s share of profit after charging interest on capital @ 8% per annum would not be less than 1,60,000 p.a. The capital contributed were: A – ₹ 4,00,000; B – ₹ 3,00,000 and C – ₹ 2,00,000. Profit for the year ended on 31st March, 2024 was ₹ 4,74,000. Prepare Profit and Loss Appropriation Account.

[Ans. Share of Profit : A ₹ 1,74,000; B ₹ 1,26,000 and C ₹ 1,20,000.]

Solution:-

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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

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