Question

A, B & C entered into partnership on 1.1.2017 to share profits & losses in the ratio of 5 : 3 : 2. A personally

guaranteed that C’s share of profit after charging interest on capitals at 5% p.a. would not be less than Rs.
30,000 in any year. Capitals of A, B & C were Rs. 3,20,000, Rs. 2,00,000 & Rs. 1,60,000 respectively. Profits

for the year ending 31.12.2017 before providing for interest on partners’ capital was Rs. 1,59,000. You are
required to prepare the Profit & Loss Appropriation Account.​

Answer 1

Step-by-step explanation:

Answer in photo

I hope This ans. will help you..

Answer 2

Answer:

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