Accountancy, asked by vishalsawasiya088, 2 months ago

Vivek and vedavrat are partners in a firm. He joins indraraj for a 1/4 part. Which is guaranteed a minimum annual profit of ₹60000. The amount of profit in excess of one 1/4 part given to him under the guarantee will be borne by both the old partners in the ratio 3:2 respectively. The firm has a partners of ₹100000 in the half year ending 31 march 2014. Create profit loss appropriation account and enter profit distribution journal.

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Answered by shinchen08

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Answered by Rishabh90123

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