Mohan, Sohan, and Suresh were partners in a firm sharing profits in the ratio of 2:2:1. Suresh was guaranteed a profit of ₹70,000. Any deficiency on account of guarantee to Suresh was to be borne by Mohan and Sohan in 3:2 ratios. The profit of the firm for the year ended 31.3.2022 amounted to ₹2,00,000. Prepare Profit and Loss Appropriation Account of the firm for the year ended 31.3.2022.

 Marks-3, CBSE:2022-23/Zone-2/Set-1/Q-18*

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