[CBSE] Q. 92 solution of Fundamentals of Partnership Firms TS Grewal Book 2023-24 Edition

Share your love

Are you looking for the solution of Question number 92 of the Fundamentals of partnership firm chapter TS Grewal Book CBSE 2023-24 Edition?

Question number 92 of Accounting for Partnership Firms – Fundamentals is a theoretical one.

Solution of Question number 92 of Accounting for Partnership Firms – Fundamentals TS Grewal Book CBSE 2023-24 Edition

Q. 92

Ajay, Binay, and Chetan were partners sharing profits in the ratio of 3:3:2. The Partnership Deed Provided for the following:

i) Salary of ₹ 2,000 per quarter to Ajay and Binay

ii) Chetan was entitled to a commission of ₹ 8,000

iii) Binay was guaranteed a profit of ₹ 50,000 p.a.

The Profit of the firm for the year ended 31st March 2015 was ₹ 1,50,000 which was distributed among Ajay, Binay, and Chetan in the ratio of 2 : 2 : 1, without taking into consideration the provisions of the partnership Deed. Pass necessary rectifying entry for the above adjustments in the books of the firm. Show your working clearly.

Solution:-

1st Method

Working Notes:-

2nd Method

Working Notes:-

3rd Method

Here is the list of all Solutions.

S.NQuestions
1Question – 1
2Question – 2
3Question – 3
4Question – 4
5Question – 5
6Question – 6
7Question – 7
8Question – 8
9Question – 9
10Question – 10
S.NQuestions
11Question – 11
12Question – 12
13Question – 13
14Question – 14
15Question – 15
16Question – 16
17Question – 17
18Question – 18
19Question – 19
20Question – 20
S.NQuestions
21Question – 21
22Question – 22
23Question – 23
24Question – 24
25Question – 25
26Question – 26
27Question – 27
28Question – 28
29Question – 29
30Question – 30
S.NQuestions
31Question – 31
32Question – 32
33Question – 33
34Question – 34
35Question – 35
36Question – 36
37Question – 37
38Question – 38
39Question – 39
40Question – 40
S.NQuestions
41Question – 41
42Question – 42
43Question – 43
44Question – 44
45Question – 45
46Question – 46
47Question – 47
48Question – 48
49Question – 49
50Question – 50
S.NQuestions
51Question – 51
52Question – 52
53Question – 53
54Question – 54
55Question – 55
56Question – 56
57Question – 57
58Question – 58
59Question – 59
60Question – 60
S.NQuestions
61Question – 61
62Question – 62
63Question – 63
64Question – 64
65Question – 65
66Question – 66
67Question – 67
68Question – 68
69Question – 69
70Question – 70
S.NQuestions
71Question – 71
72Question – 72
73Question – 73
74Question – 74
75Question – 75
76Question – 76
77Question – 77
78Question – 78
79Question – 79
80Question – 80
S.NQuestions
81Question – 81
82Question – 82
83Question – 83
84Question – 84
85Question – 85
86Question – 86
87Question – 87
88Question – 88
89Question – 89
90Question – 90
S.NQuestions
91Question – 91
92Question – 92
93Question – 93
94Question – 94
95Question – 95
Share your love
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.

Articles: 5718

Leave a Reply

Your email address will not be published. Required fields are marked *

close

Ad Blocker Detected!

Our Website is made possible by displaying online advertisements to our visitors. Please consider supporting us and remove the AD - Blocker to read this article.

Refresh