Vicky, Vijay, and Veenu are partners sharing profits in the ratio of 5 : 4 : 1, Veenu is given a guarantee that his minimum share of profit in any given year would be at least ₹ 5,000
Vicky, Vijay, and Veenu are partners sharing profits in the ratio of 5 : 4 : 1, Veenu is given a guarantee that his minimum share of profit in any given year would be at least ₹ 5,000.
Deficiency, if any, would be borne by Vicky and Vijay equally. The profit for the year ended 31st March, 2023 was ₹ 40,000
Pass necessary entries in the books of the firm.
Anurag Pathak Changed status to publish April 20, 2024
