

InterviewSolution
Saved Bookmarks
1. |
Three Chartered Accountants A, B and C form a partnership, profits being shared in the ratio of 3: 2.1subject to the following:(a) C's share of profit guaranteed to be not less than 15,000 p.a.(b) B gives a guarantee to the effect that gross fee earned by him for the firm shall be equal to hisaverage gross fee of the preceeding five years when he was carrying on profession alone, which on anaverage works out at 25,000.The profit for the first year of the partnership are *75,000. The gross fee earned by B for the firm is 16,000.You are required to show Profit and Loss Appropriation Account after giving effect to the above. |
Answer» what is this answer please solve and give but in my book is different |
|