Solution of Q 36 Fundamentals of Partnership Firm TS Grewal 2023-24 [CBSE]
Step-by-step solution of Question 36, Chapter 1 Accounting for Partnership Firms – Fundamentals, TS Grewal Class 12 Accountancy 2023-24 for the CBSE Board.
Question 36
X and Y are partners in a firm. X is entitled to a salary of ₹10,000 per month and commission of 10% of the net profit after partners’ salaries but before charging commission. Y is entitled to a salary of ₹25,000 p.a. and commission of 10% of the net profit after charging all commission and partners’ salaries. Net profit before providing for partners’ salaries and commission for the year ended 31st March, 2023 was ₹4,20,000. Show distribution of profit.
Solution
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About this solution
This is Chapter 1 Accounting for Partnership Firms – Fundamentals of TS Grewal Edition 2023-24.
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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