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Accountancy · 2025 · 1 mark
CBSE 2025 · Region 6 · Set 1 · Q11
Ashok and Avinash were partners in a firm sharing profits and losses in the ratio of 3: 2. On 1st April, 2023, their capitals were ₹ 10,00,000 and ₹…
Ashok and Avinash were partners in a firm sharing profits and losses in the ratio of $\displaystyle 3$ : 2. On 1st April, $\displaystyle 2023$, their capitals were ₹ $\displaystyle 10,00,000$ and ₹ $\displaystyle 15,00,000$ respectively. After the accounts for the year ending 31st March, $\displaystyle 2024$ were prepared, it was discovered that interest on capital at the rate of $\displaystyle 10$% per annum, as provided for in the partnership deed, was not credited to the partne is' capital accounts before distribution of profits. Had the interest on capital been duly provided, the firm's divisible profit would have :
Official answer
(A)
Reduced by ₹ $\displaystyle 2,50,000$
Marking-scheme solution
(A)
Reduced by ₹$\displaystyle 2,50,000$
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CBSE Class 12 Accountancy past-paper question from the 2025 board exam, with the answer as CBSE’s own marking scheme gives it. Where our answers come from.