Question

2. Roja and Usha were partners in a firm sharing profits and losses in the ratio
of 3:2. They admit Sahana for 1/6th share in profits and guaranteed that his
share of profits will not be less then * 25,000. Total profits of the firm were
90,000. Calculate share of profits for each partner when the Guarantee is
given by Roja. Prepare Profit and Loss Appropriation Account.​

Answer 1

Explanation:

Domicile refers to the place you call home permanently. Your domicile is important for legal purposes such as paying taxes, voting, and claiming benefits. Residence and domicile have different legal definitions and are differentiated primarily by the length of time you plan to live in a specific location.