[CBSE] Q. 9 Solution Fundamentals of Partnership Firms DK Goel [2023-24]

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Solution of Question Number 9 of the Fundamentals of partnership firm chapter DK Goel Book 2023-24 Edition?

Y and Z are partners with capitals of ₹ 25,000 and ₹ 15,000 respectively on 1st April 2022. Each partner is entitled to 9% p.a. interest on his capital. Z is entitled to a salary of ₹ 6,000 p.a. together with a commission of 6% of Net Profit remaining after deducting interest on capital and salary and after charging his commission. The Profits for the year ended 31st March 2023 before making any of the above-mentioned adjustments amounts of ₹ 30,800. Prepare Partner’s Capital Accounts: (i) When Capitals are fixed, ii) When Capitals are fluctuaing.

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