Question 10 Chapter 2 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 10 Chapter 2 of +2-Part-1

10. (Interest on Loan) Rajan and Sunil are partners in a chemist shop in 3:1 ratio. Rajan gave a loan of Rs.2,00,000 to the firm on 1st April 2018 which the firm returned on 31st December 2018. Sunil also gave Rs.1,00,000 as a loan to the firm on 1st November 2018. Meanwhile, wife pf Rajan gave a loan of Rs.50,000 to the firm @10% on 1st January 2019. Partnership Deed is silent on interest on a loan of a partner. Calculate interest on Loan of Partner and Mrs Partner.

The solution of Question 10 Chapter 2 of +2 Part-1: – 

Interest on Loan:
Payable to Rajan for 9 months = 2,00,000 x 6/100 x 9/12 = Rs.9,000
Payable to Sunil for 5 months = 2,00,000 x 6/100 x 5/12 = Rs.2,500

Payable to Mrs. Rajan for 3 months = 50,000 x 10/100 x 3/12 = Rs.1,250
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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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