Maanika Bhavi and Komal are partners sharing profits in the ratio of 6 4 1 Komal is guaranteed a min...........

Maanika, Bhavi and Komal are partners sharing profits in the ratio of 6:4:1. Komal is guaranteed a minimum profit of Rs.2,00,000. The firm incurred a loss of Rs.22,00,000 for the year ended 31stMarch,2018.Pass necessary journal entry regarding deficiency borne by Maanika and Bhavi and prepare Profit and Loss Appropriation Account.

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