Question

Guarantee of profit to a Partner 22. X and Y are partners sharing profits in the ratio of 3: 2. From 1st January 1991, they 1 admit Z into partnership giving him 5 th share of the profits with a guarantee of Rs.12,000 minimum. X and Y as between themselves continued to share profits as before. Profits of the firm for 1991 were Rs. 48,000. Determine the profits of X, Y and Z. 5
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Answer 1

Explanation:

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