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Accountancy · 2023 · 1 mark
CBSE 2023 · Region 4 · Set 2 · Q2
Keshav, Krishna and Murari were in partnership sharing profits and losses in the ratio of 3: 2: 1. Their fixed capitals were: ₹ 12,00,000, ₹…
Keshav, Krishna and Murari were in partnership sharing profits and losses in the ratio of $\displaystyle 3$ : $\displaystyle 2$ : 1. Their fixed capitals were : ₹ $\displaystyle 12,00,000$, ₹ $\displaystyle 10,00,000$ and ₹ $\displaystyle 8,00,000$ respectively. It was agreed that interest on capital will be allowed at $\displaystyle 10$% per annum. Partners were entitled to salaries as follows : Keshav ₹ $\displaystyle 5,000$ per month and Krishna ₹ $\displaystyle 3,000$ per quarter. Profit of the firm for the year ended 31st March, $\displaystyle 2022$ was ₹ $\displaystyle 6,72$,000. Amount credited to the Partners Current Accounts ' on account of 'interest on capital' and 'salary' was :
Official answer
(B)
Keshav ₹ $\displaystyle 1,80,000$, Krishna ₹ $\displaystyle 1,12,000$ and Murari ₹ $\displaystyle 80,000$
Marking-scheme solution
(b)
Keshav ₹$\displaystyle 1,80,000$, Krishna ₹$\displaystyle 1,12,000$ and Murari ₹$\displaystyle 80,000$
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CBSE Class 12 Accountancy past-paper question from the 2023 board exam, with the answer as CBSE’s own marking scheme gives it. Where our answers come from.