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X,Y and Zare partnersin a firm,Theirprofit - sharingratio is 5:3:2.Zis guaranteed aminimumprofitof Rs.10,000 every yearAny defifciencyarisingis tobemetby Ythe profitsfor thetwoyearended31stMarch, 2018and 2019wereRs. 40,000and 60,000Respectivelyprepaneprofitand LossAppropriationAccountof thetwoyears . |
Answer» SOLUTION :![]() NOTE: Z 's sharein profitis morethantheminimum guaranteedamountSO threeis noneedforany ADJUSTMENT . |
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