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Class 12 Accountancy Partnership Accounts - Basic Concepts AdjustmentsExpert

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A, B and C share profits in (2:2:1). C is guaranteed (₹30000). Total profit is (₹100000) and A alone bears the deficiency. What is A's final profit?

Answer and explanation

Correct answer: (₹30000)

C's normal share is (₹20000), so deficiency is (₹10000). A's normal share (₹40000) becomes (₹30000).

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Partnership Adjustments Guarantee Deficiency Partnership Accounts Basic Concepts Accountancy Class 12 Mcq

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