Jegan and Madhu are partners in a firm sharing profits in 3:2, with 4 a capital of Rs. 5, 00,000 and Rs.2, 50,000 respectively. They admit Mohan as a new partner and he brings Rs.2, 00,000 as capital. Both partners guaranteed Mohan's profit share will not be less than Rs.30, 000 after providing 10% pa interest on capital to all partners. Any deficiency in profit share will be shared by both partners in 3:2. The New profit sharing ratio 3:2:1. The Net profit during the year amounted to RS.2, 00,000. Prepare profit & loss appropriation a/c.

Jegan and Madhu are partners in a firm sharing profits in 3:2, with 4

1.	Jegan and Madhu are partners in a firm sharing profits in 3:2, with 4 a capital of Rs. 5, 00,000 and Rs.2, 50,000 respectively. They admit Mohan as a new partner and he brings Rs.2, 00,000 as capital. Both partners guaranteed Mohan's profit share will not be less than Rs.30, 000 after providing 10% pa interest on capital to all partners. Any deficiency in profit share will be shared by both partners in 3:2. The New profit sharing ratio 3:2:1. The Net profit during the year amounted to RS.2, 00,000. Prepare profit & loss appropriation a/c.
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