DK Goel Solutions Q 76 Chapter 1 Accounting for Partnership Firms-Fundamentals Class 12 CBSE [2023-24]
Step-by-step solution of Question 76, Chapter 1 Accounting for Partnership Firms – Fundamentals, DK Goel Class 12 Accountancy 2023-24 for the CBSE Board.
Question 76
A, B and C are partners sharing profits in the ratio of 4 : 3 : 2. It was provided that B’s share of profit will not be less than ₹ 1,50,000 per annum. The losses for the year ended 31st March, 2021 were ₹ 85,000, before allowing interest on Loan of ₹ 1,00,000 taken from A on 1st June, 2020.
You are required to show necessary account for division of loss and pass necessary journal entries.
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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