DK Goel Solutions Q 57 Chapter 1 Accounting for Partnership Firms-Fundamentals Class 12 CBSE [2023-24]
Step-by-step solution of Question 57, Chapter 1 Accounting for Partnership Firms – Fundamentals, DK Goel Class 12 Accountancy 2023-24 for the CBSE Board.
Question 57
A, B and C were partners sharing profits in the ratio of 1 : 2 : 3. A withdrew ₹ 5,000 every month, B withdrew ₹ 60,000 during the year and C withdrew ₹ 15,000 during each quarter. It was discovered that for the year ending 31st March 2021, interest on drawings was charged @ 8% p.a. whereas there is no provision for interest on drawings in the partnership deed. Pass necessary rectifying entry.
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.