In case of a loss, first of all, the loss is transferred to the capital accounts of the partners in their profit sharing ratio.Then the partner who's been given guarantee of profit,his capital account is credited with the guaranteed amount plus the loss that he suffered. The entire amount that has been credited to the capital account of the guaranteed partner(the amount of the guarantee and the loss he suffered) is shared by all the partners in their agreed ratio or only by a few partners(sometimes only by one partner.) Hope that's of some help. :)