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A partner gives gurantee to the …

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A partner gives gurantee to the effect that gross fee earned by her for the firm shall be equal to her average gross fee of the proceeding five years ,when she was carrying the profession alone ( which is 25000 ).the gross fee earned by her was 16000 and her share in profit was 1/3 .what will be the treatment of this condition in p/l appropriation a/c.

Posted by Nimesh Wadhwani 7 years ago

CBSE > Class 12 > Accountancy

1 answers

Love Sandhu 7 years ago

It will be recorded on credit side of P&L App A/C By A's cap a/c (25000_16000)=9000

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