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Solution of Q 22 Fundamentals of Partnership Firm TS Grewal 2022-23 [CBSE]

Question 22 of 88Chapter 2Class 12 · CBSE✍ Vijay Adarsh

Step-by-step solution of Question 22, Chapter 2 Accounting for Partnership Firms – Fundamentals, TS Grewal Class 12 Accountancy 2022-23 for the CBSE Board.

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Question 22

Anita and Ankita are partners sharing profits equally. Their capitals, maintained following Fluctuating Capital Accounts Method, as on 31st March, 2021 were ₹5,00,000 and ₹4,00,000 respectively. Partnership Deed provided to allow interest on capital @ 10% p.a. The firm earned net profit of ₹2,00,000 for the year ended 31st March, 2022.

Pass the Journal entry for interest on capital.

TS Grewal Class 12 Fundamentals of Partnership Firm Question 22

Solution

Solution of Q 22 Fundamentals of Partnership Firm TS Grewal 2022-23
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About this solution

This is Chapter 2 Accounting for Partnership Firms – Fundamentals of TS Grewal Edition 2022-23.

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 Accountancy Board Exam.

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