[CBSE] Q. 8 solution of Fundamentals of Partnership Firms TS Grewal Book 2022-23 Edition

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Are you looking for the solution of Question number 8 of the Fundamentals of partnership firm chapter TS Grewal Book CBSE 2022-23 Edition?

Question number 8 of Accounting for Partnership Firms – Fundamentals is a theoretical one.

Solution of Question number 8 of Accounting for Partnership Firms – Fundamentals TS Grewal Book CBSE 2022-23 Edition

Q. 8.

X and Y are partners sharing profits and losses in the ratio of 2:3 with capitals of ₹ 2,00,000 and ₹ 3,00,000 respectively. On 1st October, 2021, X and Y gave loans of ₹ 80,000 and ₹ 40,000 respectively to the firm. Show distribution of profits/losses for the year ended 31st March, 2022 in each of the following alternative cases:

Case 1. If the profit before interest for the year amounted to ₹ 21,000.

Case 2. If the profit before interest for the year amounted to ₹ 3,000.

Case 3. If the profit before interest for the year amounted to ₹ 5,000.

Case 4. If the loss before interest for the year amounted to ₹ 1,400.

Solution:-

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