Gautam, Yashica and Asma entered into a partnership on 1st April, 2022 sharing profits and losses in the ratio of 3:2:1. Gautam and guaranteed that Asma’s share of profit after allowing interest on capital @ 5% p.a. would not be less than ₹ 30,000 p.a. The capitals contributed were Gautam ₹ 3,00,000, Yashica ₹ 2,00,000 and Asma ₹ 1,00,000.
On 1st April, 2020, Pixie, Nixie and Gypsy entered into a partnership with fixed capitals of ₹ 60,000, ₹ 50,000 and ₹ 30,000 respectively. On 1st October, 2020, Pixie gave a loan of ₹ 12,000 to the firm.
