[NCERT] Q 14 Accounting for Partnership Basic Concepts Solutions Class 12

Share your love

Solutions of Question number 14 of Accounting for Partnership Basic Concepts NCERT Accountancy Solution Class 12 CBSE Board.

Rahul, Rohit and Karan started partnership business on April 1, 2019 with capitals of ₹ 20,00,000, ₹ 18,00,000 and ₹ 16,00,000, respectively.

The profit for the year ended March 2020 amounted to ₹ 1,35,000 and the partner’s drawings had been Rahul ₹ 50,000, Rohit ₹ 50,000 and Karan ₹ 40,000. The profits are distributed among partner’s in the ratio of 3 : 2 : 1. Calculate the interest on capital @ 5% p.a.

[Ans : Rahul, ₹ 1,00,000, Rohit, ₹ 90,000, Karan ₹ 80,000]

Solution:-

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: 6649

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Your email address will not be published.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