DK Goel Solutions Q 19 Chapter 1 Accounting for Partnership Firms-Fundamentals Class 12 CBSE [2023-24]
Step-by-step solution of Question 19, Chapter 1 Accounting for Partnership Firms – Fundamentals, DK Goel Class 12 Accountancy 2023-24 for the CBSE Board.
Question 19
A and B are partners in a firm sharing profits in the ratio of 1 : 2. Their capitals on 1st April 2021 were ₹ 4,00,000 and ₹ 6,00,000 respectively. As per partnership deed, A is to get a monthly salary of ₹ 15,000 and interest on capitals is to be provided @ 10% p.a. and charged on drawings @ 12% p.a. During the year A withdrew ₹ 30,000 and B withdrew ₹ 50,000.
The firm incurred a loss of ₹ 60,000 during the year ended 31st March, 2022 before above adjustments. You are required to prepare an account showing the distribution of profit/loss.
Solution
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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.
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