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
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