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Akhil and Bimal are partners sharing …

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Akhil and Bimal are partners sharing profits in the ratio of 3:2. Akhil gave a loan to the firm of ₹1,00,000 on 1st October, 2019. On the same date, the firm gave a loan to Bimal of ₹1,00,000. They do not have an agreement as to interest. Akhil had also given his personal property for the firm's godown at a monthly rent of ₹5,000. Firm earned a profit of ₹1,03,000 (before above adjustments) for the year ended 31st March, 2020. Show the distribution of profit for the year.

Posted by Kala Devi 3 years, 5 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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