Question

Vikas and Vivek were partners in a firm sharing profits in the ratio of 3 : 2. On 1st April, 2017, they admitted Vandana as a new partner for 1/8th share in the profits with a guaranteed profit of Rs. 1,50,000. The new profit-sharing ratio between Vikas and Vivek will remain same but they decided to bear any deficiency on account of guarantee to Vandana in the ratio 3 : 2. The profit of  the firm for the year ended 31st March, 2018 was Rs. 9,00,000. Prepare Profit and Loss Appropriation Account of Vikas, Vivek and Vandana for the year ended 31st March, 2018.

Answer 1

Working Notes:

Comments

But in question the ratio is 3:2
But here it is take 2:3 .. How?

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Vikas and Vivek were partners in a firm sharing profits in the ratio of 3 : 2.
So, Profit share Vikas and Vivek in 3:2 ratio.
But they decided to bear any deficiency on account of guarantee to Vandana in the ratio 3 : 2.
So, Deficiency to borne by vikas and vivek in the ratio 2 :3.

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Yes you are correct do the opposite then the answer will be correct.