Please 100% correct within few minutes or else skip 52. Mona, Nisha and Priyanka are partners in a firm. They contributed 550,000 each as capital three years ago. At that time Priyanka agreed to look after the business as Mona and Nisha were busy. The profits for the past three years were 15,000, 125,000 and 350,000 respectively. While going through the books of accounts Mona noticed that the profit had been distributed in the ratio of 1:1: 2. When she enquired from Priyanka about this, Priyanka answered that since she looked after the business she should get more profit. Mona disagreed and it was decided to distribute profit equally retrospectively for the last three years. (a) You are required to make necessary corrections in the books of accounts of Mona, Nisha and Priyanka by passing an adjustment entry. (6) Identify the value which was not practiced by Priyanka while distributing profits