[ISC] Q. 21 Solution of Fundamentals of Partnership Firms TS Grewal Book ISC (2026-27)
Solution of Question number 21 of the Fundamentals of Partnership Accounts (Firm) chapter TS Grewal Book 2026-27 Edition ISC Board.
Arun and Barun started business on 1st April, 2023. From the following Balance Sheet of Arun and Barun and Additional information, Calculate interest on capital @ 6% p.a. payable to Barun for the year ended 31st March 2024:
| Liabilities | ₹ | Assets | ₹ |
| Arun’s Capital A/c Barun’s Capital A/c Profit & Loss A/c | 50,000 40,000 20,000 | Sundry Assets | 1,10,000 |
| 1,10,000 | 1,10,000 |
During the year, Barun’s drawings were ₹ 15,000, and profit during the year was ₹ 30,000.
Solution:-
