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[ISC] Q. 62 Solution of Fundamentals of Partnership TS Grewal ISC 2023-24 Edition

Question 62 of 78Chapter 1Class 12 · ISC✍ Vijay Adarsh

Step-by-step solution of Question 62, Chapter 1 Partnership Accounts – Fundamentals, TS Grewal Class 12 Accountancy 2023-24 for the ISC Board.

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Question 62

Dhoni, Kohli and Ishant are partners in Sports goods business sharing profits and losses in the ratio of 2 : 2 : 1. Ishant is guaranteed profit of ₹ 5,00,000 per annum by Dhoni and Kohli. Any shortfall in the guaranteed profit to Ishant is to be borne by Dhoni and Kohli in the ratio of 4 : 1. During the year ended 31st March, 2023, the firm incurred a loss of ₹ 2,00,000. Their capitals on 1st April, 2022 were ₹ 15,00,000; ₹ 14,00,000 and ₹ 5,00,000 respectively. You are required to prepare the necessary accounts giving effect to the above.

TS Grewal Class 12 Fundamentals of Partnership Question 62

Solution

Solution of Q 62 Fundamentals of Partnership TS Grewal 2023-24 part 1
Solution of Q 62 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 62 Fundamentals of Partnership TS Grewal 2023-24 part 3
Solution of Q 62 Fundamentals of Partnership TS Grewal 2023-24 part 4
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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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