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

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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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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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