Aarav, Prithvi and Saksham are partners in a firm. Their profit sharing ratio is 2 : 2 : 1. Saksham is guaranteed a minimum profit of ₹ 10,000 every year
Aarav, Prithvi and Saksham are partners in a firm. Their profit sharing ratio is 2 : 2 : 1. Saksham is guaranteed a minimum profit of ₹ 10,000 every year. Any deficiency arising shall be met by Prithvi.
Profits for the two years ended 31st March 2022 and 2023 were ₹ 40,000 and ₹ 60,000 respectively.
Prepare Profit and Loss Appropriation account for the two years.
Anurag Pathak Changed status to publish April 20, 2024
