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In a partnership of A and B, B is guaranteed (₹50000) by the firm and not by a specific partner. Total profit is (₹90000), ratio (2:1). What is A's profit?

Answer and explanation

Correct answer: (₹40000)

B's normal share is (₹30000) and guarantee is (₹50000). Under firm guarantee B receives (₹50000), leaving (₹40000) for A.

Related tags

PartnershipAdjustmentsFirm GuaranteePartnership Accounts Basic ConceptsAccountancyClass 12 Mcq

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