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Answer

Kamal, Lalit, and Neha were partners sharing profits and losses in the ratio of 3 : 3 : 2. Balances in their capital accounts as on 1st April 2022 stood at ₹ 8,00,000, ₹ 7,00,000 and ₹ 2,00,000 (Dr.) respectively

Solution:- Alternative of Journal entry

Anurag Pathak
April 15, 2023

Anchal, Mitesh, and Avichal entered into a partnership on 1st April 2022 and decided to share profits and losses in the ratio of 3 : 2 : 1. Their capitals were ₹ 1,00,000, ₹ 75,000, and ₹ 50,000 respectively.

Solution:-

Anurag Pathak
April 15, 2023

Dhoni, Kohli, and Ishant are partners in the Sports goods business sharing profits and losses in the ratio of 2 : 2 : 1. Ishant is guaranteed a profit of ₹ 5,00,000 per annum by Dhoni and Kohli

Solution:-

Anurag Pathak
April 15, 2023

Cook, Broad, and Prior are partners in a firm sharing profits and losses in the ratio of 3 : 2 : 1. Prior is guaranteed an annual profit of ₹ 1,00,000 by the other partners

Solution:-

Anurag Pathak
April 15, 2023

Sonu, Monu, Parth, and Mala are partners sharing profits and losses in the ratio of 4 : 3 : 2 : 1. Their capitals as at 1st April, 2022 were ₹ 1,80,000; ₹ 1,50,000; ₹ 90,000 and ₹ 60,000 respectively

Solution:-

Anurag Pathak
April 15, 2023

Mita, Rita, and Sandra were partners in a firm, sharing profits and losses in the ratio of 2 : 2 : 1. Mita had personally guaranteed that in any year Sandra’s share of profit, after allowing interest on capital

Solution:-

Anurag Pathak
April 15, 2023

Ashok and Bhim were partners sharing profits in the ratio of 3 : 2. Their capitals as on 1st April 2022 were ₹ 1,00,000 and ₹ 2,00,000 respectively

Solution:- 1st Year 2nd Method

Anurag Pathak
April 15, 2023

Kanav, Parv, and Sheel entered into a partnership on 1st October 2022 and decided to share profits and losses in the ratio of 4 : 3 : 3. Kanav personally guaranteed that Sheel’s share of profit after charging interest on capital @ 10% p.a

Solution:-

Anurag Pathak
April 15, 2023

Vishesh, Vaibhav, and Vibhuti entered into a partnership on 1st April 2022 sharing profits in the ratio of 5 : 3 : 2. Vishesh guaranteed that Vibhuti’s Share of profit, after charging interest on capital @ 5% p.a

Solution:-

Anurag Pathak
April 15, 2023

Neel, Nitin, and Neeraj are partners having Capital of ₹ 15,00,000; ₹ 12,00,000, and ₹ 9,00,000 respectively, and sharing profit and losses equally. Neeraj is guaranteed a minimum profit of ₹ 1,50,000 per annum

Solution:-

Anurag Pathak
April 15, 2023