Question

...Question - 1....
Vinod and Gaurav are partners and involved in a partnership business of Dry
Fruits. They share profits and losses in the ratio of 8:4. On 1st April, 2019 they
admit Mohit with 3/12th Share in profits with a guaranteed amount of
Rs.1,00,000. The profit for the year ended 31st March 2020 was Rs.3,04,000.
Show distribution of profit among the partners on 31st March 2020.
plz help me​

Answer 1

Answer:

Profit and LossA/c Dr. 3,04,000

To Vinod CapitalA/c 1,36,000

To Gaurav CapitalA/c 68,000

To Mohit CapitalA/c 1,00,000

Answer 2

Explanation:

Vinod’s Share of Profit Rs.1,36,000; Gaurav Rs.68,000 and Mohit

Rs.1,00,000