Lalit and Neha were partners sharing profits and losses in the ratio of 3:32. Balances in their
Accounts as on 1st April 2019 stood at 8.00.000 700.000 and 2.00.000 (D) respectively
as admitted as partner on that date with capital of 400.000 for sth share of pronts with
m guaranteed share of profit of 300.000 it was decided that Kamal Lalit and Neha will
cess of 1/5th share going to Anita in the ratio of 221
aring ratio after Anita's admission will be
Profit for the year ended 31st March
- 15,00,000 before the following adjustments arising due to the Partnership Deed:
est on capital is to be allowed pa
est on Drawings were Kamal 20,000, and Lat40,000, and
y to Lalit 96.000; and Anita 120.000
he Journal entry for distribution of divisible profit and
e Profit and Loss Appropriation Account
and Veenu are partners sharing profits in the ratio of 5: 4:1. Veenu is given a guarantee
imum share of profit in any given year would be at least 5,000. Deficiency, if any, would
Vicky and Vijay equally. The profits for the year ended 31st March, 2020 was? 40,000
ary entries in the books of the firm.
ad Neeraj are partners having Capital of 15,00,000; 12,00,000 and 9,00,000 respectively
profit and losses equally. Neeraj is guaranteed a minimum profit of? 1,50,000 per annum.
rred a loss of 4,50,000 for the year ended 31st March, 2020,
ired to show necessary accounts for division of loss and giving effect to minimum
ofit to Neeraj.
Parth and Mala are partners sharing profits and losses in the ratio of 4:3:2:1. Their
st April, 2019 were ? 1,80,000; 1,50,000; 90,000 and 60.000
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