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Accountancy · 2025 · 3 marks
Accounting for Partnership: Basic ConceptsMaintenance of Capital Accounts of Partners3 marksshort answer
CBSE 2025 · Region 6 · Set 2 · Q17
Devi and Anupam were partners in a firm. Their fixed capitals were ₹ $\displaystyle 9,00,000$ and $\displaystyle 6,00,000$ respectively on 1st April, 2023. The partnership deed provided for the following : (i) Interest on capital @ $\displaystyle 12$% p.a. (ii) Interest on drawings @ $\displaystyle 15$% p.a. On 1st May, $\displaystyle 2023$, Devi introduced additional capital of ₹ $\displaystyle 1,00,000$ and on 1st June, $\displaystyle 2023$ Anupam withdrew ₹ $\displaystyle 2,00,000$ from her capital. Devi withdrew ₹ $\displaystyle 4,000$ per month for her personal use and Anupam withdrew $\displaystyle 2,000$ per month for her personal use. The net divisible profit of the firm for the year ended 31st March, $\displaystyle 2024$ after allowing interest on capital and charging interest on drawings was $\displaystyle 3,00$,000. Prepare Current Accounts of the partners.
Marking-scheme solution
Dr. Partners’ Current A/c Cr.
Particulars Devi(₹) Anupam(₹) Particulars Devi(₹) Anupam(₹)
To Drawings A/c $\displaystyle 48,000$ $\displaystyle 24,000$ By Interest on
½ capital A/c $\displaystyle 1$ $\displaystyle 1,19,000$ $\displaystyle 52,000$
To Interest on By Profit & Loss
$\displaystyle 3,600$ $\displaystyle 1,800$ Appropriation
drawings A/c ½
$\displaystyle 2,17,400$ $\displaystyle 1,76,200$ $\displaystyle 1,50,000$ $\displaystyle 1,50,000$
To balance c/d½ A/c ½
$\displaystyle 2,69,000$ $\displaystyle 2,02,000$ $\displaystyle 2,69,000$ $\displaystyle 2,02,000$
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CBSE Class 12 Accountancy past-paper question from the 2025board exam, with the answer as CBSE’s own marking scheme gives it. Where our answers come from.