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Vinod, Shubh and Gaurav were partners …

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Vinod, Shubh and Gaurav were partners sharing profits in the ratio of 1:1:1. Their fixed capitals were Rs.2,00,000 each. Manager of the firm will be paid 10% commission after charging such commission. Vinod has advanced Rs.1,00,000 to the firm as loan on 1 July, 2012. Partnership deed is silent on interest on loan to the partner. A guaranteed amount of Rs.30,000 will be paid to Gaurav whether there is profit or loss incurred by the firm. Profit on 31st December, 2012 was Rs.25,000. Show the distribution of profit or loss to the partners.

Posted by Surya Rameshkumar 10 months ago

CBSE > Class 12 > Accountancy

1 answers

Manjot Kaur 2 years, 11 months ago

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