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Maanika, Bhavi and Komal are partners …

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Maanika, Bhavi and Komal are partners sharing profits in the ratio of 6:4:1. Komalis guaranteed a minimum profit of ? 2,00,000 The firm incurred a loss of 222,00,000 forthe year ended 31st March, 201 8. Pass necessary journal entry regarding deficiency borne by Maanika and Bhavi and prepare Profit and Loss Appropriation Account.

Posted by Adnan Ahmad 5 years, 10 months ago

CBSE > Class 12 > Accountancy

1 answers

Sakshi Verma 5 years, 10 months ago

Manika. Komal. Komal (12,00,000) ,(8,00,000) ,(2,00,000) (2,40,000) (1,60,000) +4,00,000 =14,40,000. =9,60,000. =2,00,000 Manika:- 4,00,000,6/10=2,40,000 Bhavi:- 4,00,000,4/10=1,60,000 -:P/L Appropriation A/C:- Particular| Amt.| Particular| Amt. To p/L. - 22,00,000.By loss-24,00,000 To profit to. Manika-14,40,000 Komal.- 2,00,000. Bhavi-9,60,000 ------------------ ----------------- 24,00,000. 24,00,000 ========= ========== ??

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