[NCERT] Q 33 Solutions Accounting for Partnership Basic Concepts Class 12

Share your love

Solution of Question number 33 of Accounting for Partnership Basic Concepts NCERT Accountancy solution Class 12 CBSE Board

Arun, Boby and Chintu are partners in a firm sharing profit in the ratio or 2 : 2 : 1. According to the terms of the partnership agreement. Chintu has to get a minimum of ₹ 60,000, irrespective of the profits of the firm. Any deficiency to Chintu on Account of such guarantee shall be borne by Arun. Prepare the Profit and Loss Appropriation Account showing distribution of profits among the partners in case the profits for year 2015 are: (I) ₹ 2,50,000; (ii) ₹ 3,60,000.

[Ans : (i) Profit to Arun ₹ 90,000, Boby ₹ 1,00,000 and Chintu ₹ 60,000 (ii) Profit to Arun ₹ 1,44,000, Boby ₹ 1,44,000 and Chintu ₹ 72,000.]


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: 6105

Leave a Reply

Your email address will not be published.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


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.