Question 07 Chapter 2 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 07 Chapter 2 of +2-Part-1

7. (No Partnership Deed) Komal and Ahmed are partners in 3:2 ratio. They contributed capital of Rs.80,000 and Rs.60,000. Komal gave loan to the firm Rs.20,000 on 1st April,2019. There is no partnership deed. Find out interest on capital and loan.

The solution of Question 07 Chapter 2 of +2 Part-1: – 

Interest on Loan payable to Komal:

= 20,000 x 6/100 = ₹ 1,200

Note: No interest on capital is to be allowed as there is no partnership deed.

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Also, Check out the solved question of previous Chapters: –

Usha Publication – Accountancy PSEB (Class 12) – Volume I – Solution

• Chapter No. 1 – Accounting Not for Profit Organisations
• Chapter No. 2 – Partnership Accounts – I (Introduction)
• Chapter No. 3 – Partnership Accounts – II (Goodwill: Nature and Valuation)
• Chapter No. 4 – Partnership Accounts – III (Reconstitution of Partnership)
• Chapter No. 5 – Partnership Accounts – IV (Admission of A Partner)
• Chapter No. 6 – Partnership Accounts – V (Retirement and Death of A Partner)
• Chapter No. 7 – Partnership Accounts – VI (Dissolution of Partnership Firm)
• Chapter No. 8 – Company Accounts (Share Capital)
• Chapter No. 9 – Company Accounts (Issue of Debentures)
• Chapter No. 10 – Company Accounts (Redemption of Debentures)

Usha Publication – Accountancy PSEB (Class 12) – Volume II – Solution

• Chapter No. 1 – Financial Statements of a Company
• Chapter No. 2 – Financial Statement Analysis
• Chapter No. 3 –  Tools of Financial Statement Analysis- Comparative and Common Size
• Chapter No. 4 – Ratio Analysis
• Chapter No. 5 – Cash Flow Statement

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