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.

Anurag Pathak Changed status to publish April 11, 2024
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