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3 chartered accountants A,B and C …

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3 chartered accountants A,B and C from a partnership, profit being divisible in the ratio of 3:2:1 subject to the following: (a) C's share of profit guaranteed to be not less than rs.15,000 p.a. (b) B gives a guarantee to the effect than gross fee earned by him for the firm shall be equal to his average gross fee of the preceeding five yearswhen he was carrying on profession alone, which on an average works out at rs.25,000. The profit for the year of the partnership are rs.75,000. The gross fee earned by B for the firm is rs.16,000. You are required to show Profit and Loss Appropriation Account after giving effect to the above.

Posted by Komal Thakur 8 years, 3 months ago

CBSE > Class 12 > Accountancy

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CBSE > Class 12 > Accountancy

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CBSE > Class 12 > Accountancy

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CBSE > Class 12 > Accountancy

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