Question

Q2 Priya, Riya and Siya started a partnership firm on 01.10.2018, sharing profits and loss in 2:1:1. Siya is
guaranteed a profit of Rs 72,000 p.a. The profit for the year ended 31.3.2019 was Rs 1,25,400 before
allowing interest of Rs 5,400 on Priya's loan which is due for the current year. Prepare Profit and Loss
Appropriation account for the year ending 31.3.2019​

Answer 1

Explanation:

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