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04 A and B were partners …

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04 A and B were partners in a firm sharing profits and losses in the ratio of 3:2. They admit C for 1/6th share in profits and guaranteed that his share of profits will not be less then Rs. 25,000. Total profits of the firm for the year ended 1st March, 2015 were Rs. 90,000. Calculate share of profits for each partner when. 1. Guarantee is given by firm. 2. Guarantee is given by A 3. Guarantee is given by A and B equally.

Posted by Deeksha Gupta 1 year, 4 months ago

CBSE > Class 12 > Accountancy

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