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Ajay,binay and chetan were partners sharing …

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Ajay,binay and chetan were partners sharing profits in the ratio of 3:3:2.The partnership deed provide following : 1.Salary of 2000 per quarter to Ajay and Binay. 2.Chetan was entitled to a commission of 8000rs. 3.Binay was guaranteed a profit of 50000rs. P.a. The profit of the firm for the year ended 31st march,2015 was 150000rs. Which was distributed among Ajay,Binay and Chetan in the ratio of 2:2:1,without taking into consideration the provisions of Partnership Deed. Pass necessary rectifying entry for the above adjustment in the books of the firm.Show your workings clearly.

Posted by Aditya Thakur 6 years, 4 months ago

CBSE > Class 12 > Accountancy

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Shashank Rai 4 years, 7 months ago

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Om Suryavanshi 5 years, 6 months ago

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