[ISC] Q. 19 solution of Fundamentals of Partnership Firms TS Grewal Book ISC 2023-24 Edition
Solution of Question number 19 of the Fundamentals of Partnership Accounts (Firm) chapter TS Grewal Book 2023-24 Edition ISC Board?
Calculate interest on Capital and on Current Accounts @ 5% p.a. from the following Balance Sheet as at 31st March 2023 of Anu and Bobby:
Balance Sheet as at 31st March, 2023
| Liabilities | ₹ | Assets | ₹ |
| Sundry Creditors Expenses Payable Capital A/cs: Anu Bobby Current A/c Anu | 40,000 10,000 2,00,000 2,50,000 40,000 | Cash in Hand Cash at Bank Current A/c: Bobby Fixed Assets | 10,000 90,000 50,000 3,90,000 |
| 5,40,000 | 5,40,000 |
Drawings during the year were ₹ 36000 each and the net profit share of each
partner was ₹ 30,000
Solution:-
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