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[ISC] Q. 76 Solution of Fundamentals of Partnership TS Grewal ISC 2023-24 Edition

Question 76 of 78Chapter 1Class 12 · ISC✍ Vijay Adarsh

Step-by-step solution of Question 76, Chapter 1 Partnership Accounts – Fundamentals, TS Grewal Class 12 Accountancy 2023-24 for the ISC Board.

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Question 76

The capitals of Madan, Krishna and Ram as on 31st March, 2023 were ₹ 30,000, ₹ 1,10,000 and ₹ 2,20,000 respectively. The profit of ₹ 60,000 for the year 2022–23 was distributed in the ratio of 4 : 1 : 1 after allowing interest on capital @ 10% p.a. During the year each partner withdrew ₹ 10,000 per month. The Partnership Deed was silent as to profit-sharing ratio but provided for interest on capital @ 12%. Pass the necessary adjusting Journal entry.

TS Grewal Class 12 Fundamentals of Partnership Question 76

Solution

Solution of Q 76 Fundamentals of Partnership TS Grewal 2023-24 part 1
Solution of Q 76 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 76 Fundamentals of Partnership TS Grewal 2023-24 part 3
Solution of Q 76 Fundamentals of Partnership TS Grewal 2023-24 part 4
Solution of Q 76 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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