[CBSE] Q. 8 DK Goel Fundamentals of Partnership [2024-25]

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Solution of Question Number 8 of the Fundamentals of partnership firm DK Goel CBSE Board (2024-25)

A and B are partners in a firm sharing profits or losses in the ratio of 2 : 3 with capitals of ₹ 4,00,000 and ₹ 8,00,000 respectively on 1st April, 2023. Each partner is entitled to 10% p.a. interest on his capital. B is entitled a commission of 10% on net profit before charging any commission. A is entitled a commission of 8% of net profit after charging all commissions. Net profit for the year ended 31st March, 2024 was ₹ 4,80,000.

Prepare Profit and Loss Appropriation Account.

[Ans. Share of Profit A ₹ 1,12,000 and B ₹ 1,68,000; Commission to B ₹ 48,000 and to A ₹ 32,000.]

Solution:-

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60Question – 60(A), 60(B), 60 (C)
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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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