Simrat and Nimrat are partners since 1st April 2022 without a Partnership Deed and they introduced capitals of ₹ 1,00,000 and ₹ 80,000 respectively.
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Solution:- Note:- The Gross fee of ₹ 16,000 earned by Baljit for the firm is less than the amount guaranteed by him. So the deficiency of ₹ 9,000 (i.e., ₹ 25,000 – ₹ 16,000) will be debited…
Solution:- Note:- 1. Profit wrongly distributed earlier in 1 : 1 : 1 is reversed in first country. 2. Sam’s guaranteed that the firm would earn at least ₹ 1,35,000 profit and any shortfall would be met by him. Thus…
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