CBSE 2025 · Region 6 · Set 3 · Q17

Sudha and Sudhir were partners in a firm sharing profits and losses in the ratio of $\displaystyle 4$ : 1. On 1st April, $\displaystyle 2023$, their fixed capitals were $\displaystyle 12,00,000$ and ₹ $\displaystyle 4,00,000$ respectively. On 1st July, $\displaystyle 2023$ Sudha invested $\displaystyle 2,00,000$ as additional capital. On 1st August, $\displaystyle 2023$ Sudhir withdrew $\displaystyle 50,000$ from his capital. The partnership deed provided for the following : (i) Interest on capital @ $\displaystyle 6$% p.a. (ii) Interest on drawings @ $\displaystyle 8$% p.a. During the year, Sudha withdrew $\displaystyle 60,000$ and Sudhir withdrew ₹ $\displaystyle 40,000$ for personal use. After providing interest on capital and charging interest on drawings, the net profit of the firm for the year ended 31st March, $\displaystyle 2024$ was $\displaystyle 3,50$,000. Prepare Current Accounts of Sudha and Sudhir.