Ashok, Brijesh and Cheena are partners sharing profits and losses in the ratio of 2 : 2 : 1

Ashok, Brijesh and Cheena are partners sharing profits and losses in the ratio of 2 : 2 : 1. Ashok and Brijesh have guaranteed that Cheena share in any year shall be ₹ 20,000. The net profit for the year ended March 31, 2017 amounted to ₹ 70,000. Prepare Profit and Loss Appropriation Account.

[Ans : Profit to Ashok ₹ 25,000, Brijesh ₹ 25,000 and Cheena ₹ 20,000.]