Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

AB are two partners in a firm C is admitted for 1/3 shares of profit with a minimum guaranteed profit of Rs. 30,000 given

 

AB are two partners in a firm C is admitted for 1/3 shares of profit with a minimum guaranteed profit of Rs. 30,000 given by A and B in the ratio of 2:1. During 2013-14 the firm reported net profit of Rs.63,000. Find the share of profit of B.

Step by Step Solution

3.40 Rating (150 Votes )

There are 3 Steps involved in it

Step: 1

AB are 2 Partner in a frine C admitted fo... blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Data Analysis And Decision Making

Authors: Christian Albright, Wayne Winston, Christopher Zappe

4th Edition

538476125, 978-0538476126

More Books

Students also viewed these Accounting questions