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DK Goel Solutions Q 75 Chapter 1 Accounting for Partnership Firms-Fundamentals Class 12 CBSE [2023-24]

Question 75 of 77Chapter 1Class 12 · CBSE✍ Vijay Adarsh

Step-by-step solution of Question 75, Chapter 1 Accounting for Partnership Firms – Fundamentals, DK Goel Class 12 Accountancy 2023-24 for the CBSE Board.

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Question 75

X and Y were sharing profits in the ratio of 2 : 1. On 1st April, 2020 they admitted Z for 1/4th share in the profits. Z is guaranteed a minimum profit of ₹ 1,00,000 for the year. Any deficiency in Z’s share is to be borne by X and Y in the ratio of 3 : 2. Losses for the year ending 31st March, 2021 amounted to ₹ 1,20,000. Record necessary entries.

DK Goel Class 12 Fundamentals of Partnership Question 75

Solution

Solution of Q 75 Fundamentals of Partnership DK Goel 2023-24 part 1
Solution of Q 75 Fundamentals of Partnership DK Goel 2023-24 part 2
Stuck on this chapter?Watch it explained in the Class 12 Accounts video courseEvery chapter, step by step, by Vijay Adarsh (23 years teaching).Watch free demo
Solution of Q 75 Fundamentals of Partnership DK Goel 2023-24 part 3
Solution of Q 75 Fundamentals of Partnership DK Goel 2023-24 part 4
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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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