Ashmit, Abbas, and Karman are partners sharing profits in the ratio of 3:2:1. Abbas is guaranteed a minimum profit of ₹ 1,50,000 per annum.

Anurag Pathak
April 10, 2023
[CBSE] Fundamentals of Partnership Firm, [CBSE] TS Grewal Solutions, Accountancy Class 12th

Anurag Pathak 24.00K April 10, 2023 0 Comments

Ashmit, Abbas, and Karman are partners sharing profits in the ratio of 3:2:1. Abbas is guaranteed a minimum profit of ₹ 1,50,000 per annum. The firm incurred a loss for the year ended 31st March 2023 of ₹ 30,000.

Prepare Profit and Loss Appropriation Account for the year.

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