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[ISC] Q. 39 Solution of Fundamentals of Partnership TS Grewal ISC 2023-24 Edition

Question 39 of 78Chapter 1Class 12 · ISC✍ Vijay Adarsh

Step-by-step solution of Question 39, Chapter 1 Partnership Accounts – Fundamentals, TS Grewal Class 12 Accountancy 2023-24 for the ISC Board.

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Question 39

Show how the following will be shown in the Capital Accounts of the partners John and Mathew when their capitals are fluctuating:

  1. Capitals on 1st April, 2022 — John ₹ 4,00,000; Mathew ₹ 3,00,000
  2. Drawings during the year ended 31st March, 2023 — John ₹ 50,000; Mathew ₹ 30,000
  3. Interest on capitals — John 5%; Mathew 5%
  4. Interest on drawings — John ₹ 1,250; Mathew ₹ 750
  5. Share of profit for the year ended 31st March, 2023 — John ₹ 60,000; Mathew ₹ 50,000
  6. Partner’s salary — John ₹ 36,000; Mathew …
  7. Commission — John ₹ 5,000; Mathew ₹ 3,000
TS Grewal Class 12 Fundamentals of Partnership Question 39

Solution

Solution of Q 39 Fundamentals of Partnership TS Grewal 2023-24
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About this solution

This is Chapter 1 Partnership Accounts – Fundamentals of TS Grewal Edition 2023-24 (ISC Board).

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 Guidelines Issued by the ISC Council. Just follow our presentation of solutions and score good marks in Accountancy ISC Board Exam.

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