The solution to Question number 3 of the Accounting for Share Capital chapter of TS Grewal Book 2025-26 Edition.
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.
