[CBSE] Q. 9 DK Goel Fundamentals of Partnership [2024-25]

Solution of Question Number 9 of the Fundamentals of partnership firm DK Goel CBSE Board (2024-25)

Y and Z are partners with capitals of ₹ 2,50,000 and ₹ 1,50,000 respectively on 1st April, 2023. Each partner is entitled to 9% p.a. interest on his capital. Z is entitled to a salary of ₹ 60,000 p.a. together with a commission of 6% of Net Profit after charging his commission. Net Profit for the year ended 31st March, 2024 amount to ₹ 2,12,000. Prepare Partner’s Capital Accounts: (i) When capitals are fixed, and (ii) when capitals are fluctuating.

[Ans. Divisible Profits ₹ 1,04,000; Commission to Z ₹ 12,000.]

Solution:-

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