[ISC] Q. 3 Solution of Fundamentals of Partnership Firms TS Grewal Book ISC (2026-27)

Solution of Question number 3 of the Fundamentals of Partnership Accounts (Firm) chapter TS Grewal Book 2026-27 Edition ISC Board.

Amitabh presents the following Profit and Loss Appropriation Account to his Partner Bharat:

Profit & Loss Appropriation Account for the year ended 31st March, 2026

Particulars	₹	Particulars	₹
To Salary A/c (Amitabh)	20,000	By Profit & Loss A/c (Net Profit)	60,000
To Salary A/c (Bharat)	14,000
To Interest on Capital @ 6% p.a.: Amitabh on ₹ 50,000 Bharat on ₹ 20,000	3,000 1,200
To Interest on Amitabh’s Loan @ 6% p.a.	6,000
To Rent A/c (Bharat)	3,000
To Profit transferred to: 3/5th to Amitabh’s Capital A/c 2/5th to Bharat’s Capital A/c	7,680 5,120
	60,000		60,000

They do not have a Partnership Deed. Bharat is of the opinion that the Profit & Loss Appropriation Account is not correctly drawn. State whether Amitabh has contravened the Provisions of Law and Prepare, Profit and Loss Appropriation Account afresh giving effect to the provisions of the Indian Partnership Act, 1932.

Solution:-

1st Method

2nd Method

Here is the list of all Solutions.

S.N	Questions
1	Question – 1
2	Question – 2
3	Question – 3
4	Question – 4
5	Question – 5
6	Question – 6
7	Question – 7
8	Question – 8
9	Question – 9
10	Question – 10

S.N	Questions
11	Question – 11
12	Question – 12
13	Question – 13
14	Question – 14
15	Question – 15
16	Question – 16
17	Question – 17
18	Question – 18
19	Question – 19, 20

MCQs of Fundamentals of Partnership for CUET

Important MCQS of Fundamentals of Partnership

Assertion Reason MCQs of Fundamentals of Partnership

Matching Type MCQs of Fundamentals of Partnership

Source/Case Type MCQs of Fundamentals of Partnership with Answers

S.N	Questions
21	Question – 21
22	Question – 22
23	Question – 23
24	Question – 24
25	Question – 25
26	Question – 26
27	Question – 27
28	Question – 28
29	Question – 29
30	Question – 30

S.N	Questions
31	Question – 31
32	Question – 32
33	Question – 33
34	Question – 34
35	Question – 35
36	Question – 36, 37
38	Question – 38
39	Question – 39
40	Question – 40

S.N	Questions
41	Question – 41
42	Question – 42
43	Question – 43
44	Question – 44
45	Question – 45
46	Question – 46
47	Question – 47
48	Question – 48
49	Question – 49
50	Question – 50

S.N	Questions
51	Question – 51
52	Question – 52
53	Question – 53
54	Question – 54
55	Question – 55
56	Question – 56
57	Question – 57
58	Question – 58
59	Question – 59
60	Question – 60

S.N	Questions
61	Question – 61
62	Question – 62
63	Question – 63
64	Question – 64
65	Question – 65
66	Question – 66
67	Question – 67
68	Question – 68
69	Question – 69
70	Question – 70

S.N	Questions
71	Question – 71
72	Question – 72
73	Question – 73
74	Question – 74
75	Question – 75
76	Question – 76
77	Question – 77
78	Question – 78
79	Question – 79
80	Question – 80