12th Class
Accountancy
Fundamentals of Partnership
Question Bank
MCQs - Accounting for Partnership Firm - Fundamentals
question_answer
X, Y and Z are partners in a firm sharing profits and losses in the ratio of 6 : 4 : 1. X and Y guaranteed a profit of Rs.15,000 to Z. Deficiency if any, will be borne by X and Y in the ratio of their capitals. The net profit for the year ending 31st March 2021 was Rs.99,000. Capital of Y in the beginning was Rs.3,00,000 and he bears deficiency on Guarantee Rs.2,000. What was the capital of X in the beginning?