[CBSE] Q. 79 solution of Fundamentals of Partnership Firms TS Grewal Book 2022-23 Edition
Solution of Question number 79 of the Fundamentals of partnership firm chapter TS Grewal Book CBSE 2022-23 Edition?
Parul, Prerna, and Kaushal are partners sharing profits equally. Parul is guaranteed a minimum annual profit of ₹ 2,00,000. Kaushal is to get a commission @ 5% of Net Sales and the commission is determined at ₹ 50,000. Net Profit for the year ended 31st March 2022 is ₹ 2,50,000.
Prepare Profit and Loss Appropriation Account for the year.
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