Question

. A, B and C are partners in a firm sharing profits and losses in the ratio of 5:4:1 with the condition that C will get a guaranteed minimum of Rs. 24 000 and A and B will bear any excess over 1/10th going to C in the ratio of 4:1 respectively. The profits of the firm in respect of the year are Rs. 2 00 000. Prepare Profit and Loss Appropriation account.

Answer 1

Answer:

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