Question

In case of guarantee of minimum profit to a partner, deficiency of guaranteed partner is shared by remaining partners in ………………….​

Answer 1

Answer:

Guarantee by the Firm or by All the Partners of the Firm. In this case, firstly the firm enters the guaranteed amount to the partner in the Profit an Loss Appropriation Account. Then, it distributes the remaining profit among the remaining partners in their remaining ratio.

Answer 2

Answer:

Guarantee by the Firm or by All the Partners of the Firm. In this case, firstly the firm enters the guaranteed amount to the partner in the Profit an Loss Appropriation Account. Then, it distributes the remaining profit among the remaining partners in their remaining ratio.

Explanation:

Guarantee by the Firm or by All the Partners of the Firm. In this case, firstly the firm enters the guaranteed amount to the partner in the Profit an Loss Appropriation Account. Then, it distributes the remaining profit among the remaining partners in their remaining ratio.

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