DK Goel Solutions Q 9 Chapter 1 Accounting for Partnership Firms-Fundamentals Class 12 CBSE [2023-24]
Step-by-step solution of Question 9, Chapter 1 Accounting for Partnership Firms – Fundamentals, DK Goel Class 12 Accountancy 2023-24 for the CBSE Board.
Question 9
Y and Z are partners with capitals of ₹ 25,000 and ₹ 15,000 respectively on 1st April, 2022. Each partner is entitled to 9% p.a. interest on his capital. Z is entitled to a salary of ₹ 6,000 p.a. together with a commission of 6% of Net Profit remaining after deducting interest on capitals and salary and after charging his commission. The profits for the year ended 31st March, 2023 before making any of the above mentioned adjustments amount to ₹ 30,800. Prepare Partner’s Capital Accounts : (i) when capitals are fixed, and (ii) when capitals are fluctuating.
Solution
All questions of Chapter 1
Orange = this question · Grey = already opened.
About this solution
This is Chapter 1 Accounting for Partnership Firms – Fundamentals of DK Goel For 2024 Examinations.
Written by Vijay Adarsh, teaching commerce since 2003 to Class 11, Class 12, B.Com, CA, CS and CMA students.
We have solved all the practical questions in this book and explained them Step by Step in detail with clear working notes.
Also, we have followed the proper format and workings which are required as per CBSE Guidelines. Just follow our presentation of solutions and score good marks in the Accountancy Board Exam.
Stuck on this question? Ask Vijay Sir
Be the first to ask on this question.