[CBSE] Q. 81 DK Goel Fundamentals of Partnership [2024-25]

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Solution of Question Number 81 of the Fundamentals of partnership firm DK Goel CBSE Board (2024-25).

A, B and C were partners in a firm having capitals of ₹ 1,00,000; ₹ 1,00,000 and ₹ 2,00,000 respectively. According to the partnership deed the partners were entitled to interest on capital @ 6% p.a. A being the working partner was also entitled to a salary of ₹ 5,000 per month. The profits were to be divided as follows:

(a) The first ₹ 40,000 in the ratio of 2 : 3 : 5.

(b) Next ₹ 80,000 in the proportion of their capitals.

(c) Remaining profits to be shared equally.

The firm made a profit of ₹ 2,70,000 for the year ended 31st March, 2024 before charging any of the above items. Prepare the Profit & Loss Appropriation Account and pass necessary journal entry for apportionment of profits.

Solution:-

Here is the complete index of solutions

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1Question – 1
2Question – 2
3Question – 3
4Question – 4
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55Question – 55
56Question – 56
57Question – 57
58Question – 58
59Question – 59
60Question – 60(A), 60(B), 60 (C)
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61Question – 61
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81Question – 81
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91Question – 91
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101Question – 101
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103Question – 103
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105Question – 105
106Question – 106
107Question – 107
108Question – 108
109Question – 109
110Question – 110
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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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