Pappu and Munna are partners in a firm sharing profits in the ratio of 3 : 2. The partnership deed provided that Pappu was to be paid salary of ₹ 2,500 per month
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Simmi and Sonu are partners in a firm, sharing profits and losses in the ratio of 3 : 1. The profit and loss account of the firm for the year ending March 31, 2024 shows a net profit of ₹ 1,50,000
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D, E and F were partners in a firm sharing profits in the ratio of 5 : 7 : 8. Their fixed capitals on 1st April, 2023 were D ₹ 5,00,000, E ₹ 7,00,000 and F ₹ 8,00,000
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A, B and C entered into partnership on 1st July, 2023 to share profit and losses in the ratio of 5 : 3 : 2. A personally guaranteed that C’s share of profit after charging interest on capital @ 8% per annum
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A, B and C are partners sharing profits in the ratio of 4 : 3 : 2. It was provided that B’s share of profit will not be less than ₹ 1,50,000 per annum
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X and Y were sharing profits in the ratio of 2 : 1. On 1st April, 2023 they admitted Z for 1/4th share in the profits. Z is guaranteed a minimum profit of ₹ 1,00,000 for the year
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The partners of a firm distributed the profits for the year ended 31st March, 2024, ₹ 1,50,000 in the ratio of 2 : 2 : 1. without providing for the following adjustments
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A, B, C and D are partners sharing profits in the ratio of 4 : 3 : 2 : 1. D is given a guarantee that his share of profits in any given year would not be less than ₹ 1,20,000
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A, B and C were partners sharing profits and losses in the ratio of 3 : 2 : 1. Their capitals on 1st April, 2023 were: A ₹ 5,00,000; B ₹ 3,00,000 and C ₹ 2,00,000
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A, B and C were partners in a firm sharing profits in the ratio of 1 : 2 : 3. B was guaranteed a profit of ₹ 2,00,000. Any deficiency on account of guarantee to B was to be borne by A and C in 1 : 4 ratio
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