[CBSE] Q. 8 Solution of Fundamentals of Partnership Firms TS Grewal Book (2025-26)

Solution of Question number 8 of the Fundamentals of partnership firm chapter TS Grewal Book CBSE 2025-26.

Akhil, Sunil, and Parvesh are partners sharing profits in the ratio of 3 : 2 : 1. Opening balance of Loan by Sunil Account was ₹ 3,00,000. Interest payable was agreed @ 10% p.a. Interest was paid by cheque up to February 2025 on 1st March 2025 and the balance was yet to be paid.

Pass the Journal entries for interest on the loan by the partner.

[Ans: Interest on Loan by Sunil up to February 2025 – ₹ 27,500; Interest transferred to Profit and Loss a/c – ₹ 30,000.]

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