Are you looking for the solution of Question number 8 of the Fundamentals of partnership firm chapter TS Grewal Book CBSE 2023-24 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 2023-24 Edition
Here is the solution of it.
Bat and Ball are partners sharing the profits in the ratio of 2:3 with capitals of ₹ 1,20,000 and ₹ 60,000 respectively. On 1st October, 2022, Bat and Ball gave loans of ₹ 2,40,000 and ₹ 1,20,000 respectively to the firm. Bat had allowed the firm to use his property for business for a monthly rent of ₹ 5,000. Loss for the year ended 31st March 2023 before rent and interest amounted to ₹ 9,000. Show distribution of profit/loss.
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