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[ISC] Q. 58 Solution of Fundamentals of Partnership TS Grewal ISC 2023-24 Edition

Question 58 of 78Chapter 1Class 12 · ISC✍ Vijay Adarsh

Step-by-step solution of Question 58, Chapter 1 Partnership Accounts – Fundamentals, TS Grewal Class 12 Accountancy 2023-24 for the ISC Board.

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Question 58

Ashok and Bhim were partners sharing profits in the ratio of 3 : 2. Their capitals as on 1st April, 2022 were ₹ 1,00,000 and ₹ 2,00,000 respectively. On 1st October, 2022, they admitted Chetan as a partner for 1/4th share. Chetan introduced ₹ 1,20,000 as capital and was given a guarantee that his share in firm’s profit will not be less than ₹ 60,000 p.a. Profit for the year ended 31st March, 2023 was ₹ 2,00,000 and 50% of this profit relates to first half of the year. Prepare Profit & Loss Appropriation Account.

TS Grewal Class 12 Fundamentals of Partnership Question 58

Solution

Solution of Q 58 Fundamentals of Partnership TS Grewal 2023-24 part 1
Solution of Q 58 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 58 Fundamentals of Partnership TS Grewal 2023-24 part 3
Solution of Q 58 Fundamentals of Partnership TS Grewal 2023-24 part 4
Solution of Q 58 Fundamentals of Partnership TS Grewal 2023-24 part 5
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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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