P, Q, R and S are partners sharing profits and losses in the ratio of 4:3:3:2. S was guaranteed by the firm that his share of profits should not be less than 30,000 whereas R was guaranteed by P that his share of profit should not be less than 55,000 (including interest on capital and salaries). R was allowed a monthly salary of 1,500. The Capital Accounts of P, Q, R and S showed credit balances of 3 80,000, 350,000, 750,000 and 20,000. Interest on Capital Accounts to be allowed @ 10% p.a. Prepare necessary account to give effect of this arrangement, assuming that the profit during the year being * 1,58,000.

P, Q, R and S are partners sharing profits and losses in the ratio of

1.	P, Q, R and S are partners sharing profits and losses in the ratio of 4:3:3:2. S was guaranteed by the firm that his share of profits should not be less than 30,000 whereas R was guaranteed by P that his share of profit should not be less than 55,000 (including interest on capital and salaries). R was allowed a monthly salary of 1,500. The Capital Accounts of P, Q, R and S showed credit balances of 3 80,000, 350,000, 750,000 and 20,000. Interest on Capital Accounts to be allowed @ 10% p.a. Prepare necessary account to give effect of this arrangement, assuming that the profit during the year being * 1,58,000.
Answer» this FULL number also addtion EXPLANATION:this CORRECT answers

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