🔴 Fundamentals Partnership Ch-1 | Q-5 | TS Grewal Solutions (2025-26)

Harshad and Dhiman are in partnership since 1st April 2022. No Partnership agreement was made. They contributed ₹ 4,00,000 and ₹ 1,00,000 respectively as capitals. In addition, Harshad had given a loan of ₹ 1,00,000 to the firm on 1st October 2022. Due to a long illness, Harshad could not participate in business activities from 1st August 2021 to 30th September 2022. Profit for the year ended 31st March 2023 was ₹ 1,80,000. A dispute has arisen between Harshad and Dhiman. Harshad Claims: i) He should be given interest @ 10% per annum on capital and loan, ii) Profit should be distributed in the ratio of capital. Dhiman Claims:- i) Profits should be distributed equally; ii) He should be allowed ₹ 2,000 p.m. as remuneration for the period he managed the business in the absence of Harshad; iii) Interest on Capital and loan should be allowed @ 6% p.a. You are required to settle the dispute between Harshad and Dhiman. Also, prepare a Profit and Loss Appropriation Account. TS Grewal Solutions Class 12 CBSE (2025-26) https://commerceschool.in/ Q. 4 Fundamentals of Partnership TS Grewal CBSE (2025-26) https://commerceschool.in/cbse-q-4-so... Rules in the absence of the Partnership Deed with MCQS https://commerceschool.in/what-are-th...