Accountancy > Accounting For Partnership Firms > Fundamentals Of Partnership
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Yash and Anish were partners in a firm sharing profits in the ratio of 2 : 1. They admitted Srishti as a new partner for 1/4th share in the profits. Srishti was guaranteed a minimum profit of ₹ 80,000. For the year ended 31st March, 2024 the firm incurred a loss of ₹ 40,000. In the Profit and Loss Appropriation Account for the year ended 31st March 2024, Srishti's Capital Account will be credited by:
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