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[ISC] Q. 29 Solution of Fundamentals of Partnership TS Grewal ISC 2023-24 Edition

Question 29 of 78Chapter 1Class 12 · ISC✍ Vijay Adarsh

Step-by-step solution of Question 29, Chapter 1 Partnership Accounts – Fundamentals, TS Grewal Class 12 Accountancy 2023-24 for the ISC Board.

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Question 29

Akshay and Rajesh are partners sharing profits and losses equally with capitals of ₹ 3,00,000 and ₹ 2,00,000 respectively. Their drawings during the year are:

Akshay’s drawings on:

  1. 30th June, 2022 ₹ 5,000
  2. 31st July, 2022 ₹ 6,000
  3. 1st October, 2022 ₹ 4,500
  4. 1st March, 2023 ₹ 14,000

Rajesh drew ₹ 3,000 at the end of each month. The Partnership Deed provides interest on capitals and drawings @ 6% p.a. Calculate interest on capitals and drawings assuming firm closes its books on 31st March every year.

TS Grewal Class 12 Fundamentals of Partnership Question 29

Solution

Solution of Q 29 Fundamentals of Partnership TS Grewal 2023-24 part 1
Solution of Q 29 Fundamentals of Partnership TS Grewal 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 29 Fundamentals of Partnership TS Grewal 2023-24 part 3
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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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