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Ameer and basheer partners sharing profit …

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Ameer and basheer partners sharing profit in the ratio 3:2 from 1st jan. 2018 they admit sammer into partnership giving him 1/5th share of the profit ; with a guarantee of ₹16000 minimum. Ameer and basheer as between themselves continued to share profit as before . Profit of the firm for 2018 was ₹40000 .prepare profit and loss appropriation a/c

Posted by Mahak Soni 2 years, 3 months ago

MP Board > Class 12 > Accountancy

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Ameer and basheer partners sharing profits in the ratio of 3 : 2. From 1st Jan. 2018 they admit Sameer into partnership giving him 1/5th share of the profit; with a guarantee of 16,000 minimum. Ameer and Basheer as between themselves continued to share profit as before. Profit of the firm for 2018 was ₹ 40,000. Prepare Profit and Loss Appropriation A/c.

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