the partners of the firm distributed the profit for the year ended 31st march 2013 rs.150000 equally providing for the following adjustments;
1.A & C were entitled to a salary of rs.5000 each p.a
2.B was entitled to a commission of rs 5000
3.A & C have guranteed a minimum profit of rs.60000 p.a. to B
4.profit were to be shared in the ratio of 2;2;1

I hope my answer is helpful

  • -5
The partners of a form distributed For the year ended 31st March 2017 150000 in the ratio of 2 ratio 2 ratio 1 without providing fall for the following adjustments first NBA entitled to salary of 1500 quarter second C was entitled to a commission of 18000 3rd and minimum profit of 50000 per annum to be 4th profits were to be share in the ratio of 3 ratio 3 ratio 2 pass necessary journal entry for the above adjustment in the book of the form
  • 2
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