[CBSE] Q. 85 Solution of Fundamentals of Partnership Firms TS Grewal Book (2024-25)

Solution of Question number 85 of the Fundamentals of partnership firm chapter TS Grewal Book CBSE 2024-25 Edition.

Atul, Bipul, and Charu are partners sharing profits equally. Bipul is guaranteed a minimum profit of ₹ 2,00,000 per annum. Salary is payable to Bipul of ₹ 10,000 per month. Net Profit for the year ended 31st March 2023 is ₹ 6,60,000.

Prepare profit and Loss Appropriation Account for the year.

[Ans: Share of Profit: Atul – ₹ 1,70,000; Bipul – ₹ 2,00,000 and Charu – ₹ 1,70,000]

Solution:-

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