Partnership Fundamental |T.S. Grewal Solutions 2025-26 | Q1, Q2, Q3, Q5 Explained I By Rajeev Sir

Learn Class 12 Accounts – Partnership Fundamentals chapter in detail with T.S. Grewal Solutions (2025-26). In this video (Part 4), we explain important board questions (Q1, Q2, Q3 & Q5) based on the Partnership Act, 1932 — all explained clearly for exam success. What You’ll Learn: Provisions of the Partnership Act in absence of a deed Salary & Interest on Partners' Capital Interest on Loan by Partners Profit Sharing Rules Interest on Drawings This video is ideal for CBSE Class 12 Commerce students preparing for board exams and looking for step-by-step TS Grewal solutions. Timestamps for Easy Navigation: 0:00 - Introduction 0:30 - Question 1 Explained 8:00 - Question 2 14:30 - Question 3 22:00 - Question 5 Stay Updated: Subscribe for all Class 12 Accountancy Chapters..! --- Question. 1 In The absence of a Partnership Deed, State the provisions of the Partnership Act, 1932 relating to: a) Salaries of Partners b) Interest on partner’s capitals c) Interest on loan by partner d) Division of Profit, e) Interest on partner’s drawings f) Interest on Loan to partners Question. 2 Mahesh, Ramesh, and Suresh are partners in a firm. They do not have a Partnership Deed. At the end of the first year of the Business, they faced the following problems: a) Mahesh wants that interest on capital should be allowed to the partners but Ramesh and Suresh do not agree. b) Ramesh wants that the partners should be allowed to draw salaries but Mahesh and Suresh do not agree. C) Mahesh and Ramesh want that Suresh should pay interest on the loan given to him by the firm but Suresh does not agree. d) Mahesh and Ramesh having contributed larger amounts of capital, desire that the profits should be distributed in the ratio of their capital contribution but Suresh does not agree. State how will these disputes be settled. Question. 3 The following difference has arisen among P, Q, and R. State who is correct in each case: a) P used ₹ 50,000 belonging to the firm and earned a profit of ₹ 5000. Q and R want the amount to be given to the firm. b) Q used ₹ 10,000 belonging to the firm and incurred a loss of ₹ 1,000. He wants the firm to bear the loss. c) P and Q want to purchase goods from Star Ltd. R does not agree. d) Q and R want to admit W as a partner, but P does not agree. e) R had given a loan of ₹ 2,00,000 to the firm and demanded interest @ 10%. P and Q do not want to pay the interest. Question. 5 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. Hashtags #class12accounts #partnershipfundamentals #accounts2025 #tsgrewalclass12 #accountancy2025 #class12commerce #tsgrewalsolutions #class12boardexam #tsgrewalchapter1 #commercewithmaths