[CBSE] Q. 89 Solution of Fundamentals of Partnership Firms TS Grewal Book (2024-25)

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Solution of Question number 89 of the Fundamentals of partnership firm chapter TS Grewal Book CBSE 2024-25.

P, Q, and R entered into a partnership on 1st April 2018 to share profit and losses in the ratio of 12 : 8 : 5. It was provided that in no case R’s share in profit would be less than ₹ 30,000 p.a. The profits and losses for the year ended 31st March, were: 2021 Profit ₹ 1,20,000; 2022 Profit ₹ 1,80,000; 2023 Loss ₹ 1,20,000. Pass the necessary Journal entries in the books of the firm

Solution:-

For the Year 2021:-

For the Year 2022:-

For the Year 2023:-

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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 and can download the Android & ios app for free lectures.

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