Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. i need the answer as soon as possible please do

I need the answer as soon as possible Please do only if u...

80.2K

Verified Solution

Question

Accounting

I need the answer as soon as possible image

Please do only if u can do in few minutes or else let others try. 63. A and B are partners in a firm sharing profits in the ratio of 2 : 1. On 1-4-2015 they 1 decide to admit C for share in profits with a guaranteed amount of 725,000 per annum. A undertook to meet the liability arising out of the guaranteed amount to C. The firm earned a profit of 375,000 for the year ended March 31, 2016. Prepare Profit and Loss Appropriation Account

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students