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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 15, 2023
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