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Accountancy · 2023 · 1 mark
CBSE 2023 · Region 4 · Set 3 · Q13
On 1st October 2020, Amit, a partner, advanced a loan of ₹ 1,20,000 to the firm. In the absence of partnership deed, the amount of interest on loan…
On 1st October $\displaystyle 2020$, Amit, a partner, advanced a loan of ₹ $\displaystyle 1,20,000$ to the firm. In the absence of partnership deed, the amount of interest on loan to be paid on 31st March, $\displaystyle 2021$ will be :
Vijay, Ajay and Sanjay are partners in a firm sharing profits and losses in the ratio of $\displaystyle 7$ : $\displaystyle 5$ : 8. Sanjay died on 28th August, 2021. His share in the profits of the firm till the date of his death was determined at ₹ $\displaystyle 75$,000. It will be debited to which of the following accounts ?
Official answer
(a) → (A)
(b) → (A)
Marking-scheme solution
(i)
(a)
₹$\displaystyle 3600$
OR
Q.(ii) Vijay, Ajay and Sanjay are partners......................
Ans.
(ii)(a)
Profit and Loss Suspense Account
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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.