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Solution of Q 8 Fundamentals of Partnership Firm TS Grewal 2022-23 [CBSE]

Question 8 of 88Chapter 2Class 12 · CBSE✍ Vijay Adarsh

Step-by-step solution of Question 8, Chapter 2 Accounting for Partnership Firms – Fundamentals, TS Grewal Class 12 Accountancy 2022-23 for the CBSE Board.

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Question 8

X and Y are partners sharing profits and losses in the ratio of 2 : 3 with capitals of ₹2,00,000 and ₹3,00,000 respectively. On 1st October, 2021, X and Y gave loans of ₹80,000 and ₹40,000 respectively to the firm. Show distribution of profits/losses for the year ended 31st March, 2022 in each of the following alternative cases:

Case 1. If the profit before interest for the year amounted to ₹21,000.

Case 2. If the profit before interest for the year amounted to ₹3,000.

Case 3. If the profit before interest for the year amounted to ₹5,000.

Case 4. If the loss before interest for the year amounted to ₹1,400.

TS Grewal Class 12 Fundamentals of Partnership Firm Question 8

Solution

Solution of Q 8 Fundamentals of Partnership Firm TS Grewal 2022-23 part 1
Solution of Q 8 Fundamentals of Partnership Firm TS Grewal 2022-23 part 2
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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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