Amit, Sumit and Samiksha are in partnership sharing profits in the ratio of 3 : 2 : 1
Amit, Sumit and Samiksha are in partnership sharing profits in the ratio of 3 : 2 : 1. Samiksha’s share in profit has been guaranteed by Amit and Sumit to be a minimum sum of ₹ 8,000.
Profits for the year ended March 31, 2017 was ₹ 36,000. Divide profit among the partners by preparing profit and loss appropriation account.
[Ans: Profit to Amit ₹ 16,800; Sumit, ₹ 11,200; Samiksha, ₹ 8,000]
Anurag Pathak Changed status to publish March 25, 2024
