DK Goel Solutions Q 63 Chapter 1 Accounting for Partnership Firms-Fundamentals Class 12 CBSE [2023-24]
Step-by-step solution of Question 63, Chapter 1 Accounting for Partnership Firms – Fundamentals, DK Goel Class 12 Accountancy 2023-24 for the CBSE Board.
Question 63
Kaveri and Tapti are partners sharing profits in the ratio of 2 : 1. Following particulars are obtained from their books :
- (i) Closing Capitals as on 31st March 2023 were Kaveri ₹ 6,15,000 and Tapti ₹ 3,60,000 after all adjustments as per partnership deed.
- (ii) Drawings during the year were : Kaveri ₹ 10,000 per month and Tapti ₹ 15,000 per quarter.
- (iii) Interest on Capital is allowed to them as per partnership deed @ 5% p.a. on Opening Capitals.
- (iv) Divisible profit during the year was ₹ 3,15,000.
Calculate the Opening Capitals of partners.
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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