Question

A,B and C are partners sharing profits in the ratio of 4:3:2. It was provided that B's share of profit will not
be less than Rs1,50,000 per annum. The losses for the year ended 31 March 2015 were Rs85,000, before
allowing interest on Loan of Rs1,00,000 taken from A on 1 June, 2014.
Your are required to show necessary account for division of loss and pass necessary journal entries.​

Answer 1

Answer:

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