[ISC] Q. 23 solution of Fundamentals of Partnership Firms TS Grewal Book ISC 2022-23 Edition

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Are you looking for the solution of Question number 23 of the Fundamentals of partnership Accounts (Firm) chapter TS Grewal Book 2022-23 Edition ISC Board?

Question number 23 of Partnership Accounts – Fundamentals is a theoretical one of TS Grewal Book ISC Board 2022-23.

Solution of Question number 23 of Partnership Accounts – Fundamentals TS Grewal Book ISC 2022-23 Edition

Question – 23

Solution:-

Case – I

Interest will not be paid on capital because Partnership Deed is silent on interest on capital. profit ₹ 50,000 will be distributed in profit sharing ratio, i.e., the share of profit: Bala – ₹ 30,000, Ranjan – ₹ 20,000.

Case – 2

Loss ₹ 50,000 will be distributed in profit sharing ratio because interest on capital is an appropriation of profit and the firm has incurred loss, i.e., Share of Loss: Bala – ₹ 30,000; Rajan – ₹ 20,000.

Case – 3

Case – 4

Case – 5

Case – 6

Here is the list of all Solutions.

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1.Question – 1
2.Question – 2
3.Question – 3
4.Question – 4
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10.Question – 10

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77.Question – 77
78.Question – 78
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Articles: 2015

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