Asha, Disha and Raghav were partners in a firm sharing profits in the ratio of 2 :3: 1. According to the partnership agreement, Raghav was guaranteed an amount of 40,000 as his share of profits. The net profit for the year ended 31st March, 2022 amounted to 1,20,000.


Prepare Profit and Loss Appropriation Account of the firm for the year ended 31 March, 2022.

Marks-3, CBSE:2022-23/Zone-5/Set-1/Q-18*

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