Parul, Prerna, and Kaushal are partners sharing profits equally. Parul is guaranteed a minimum annual profit of ₹ 2,00,000. Kaushal is to get a commission @ 5% of Net Sales and the commission is determined at ₹ 50,000. Net Profit for the year ended 31st March 2023 is ₹ 2,50,000.

Prepare Profit and Loss Appropriation Account for the year.

Anurag Pathak Changed status to publish April 10, 2023