Question 15
Accountancy
2024
Medium
MCQ
+5.00 marks · -1.00 negative
Kavita and Lalita are partners, sharing profits in the ratio of 2:1. They decide to admit Mohan for 1/4th share in future profits with a guaranteed amount of ₹25,000. Both Kavita and Lalita undertake to meet the liability arising due to the guaranteed amount to Mohan in their respective profit sharing ratio. The firm earned profits of ₹76,000 for the year 2022-23. The deficiency borne by Kavita is:
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