[CBSE] Q. 79 solution of Fundamentals of Partnership Firms TS Grewal Book 2022-23 Edition

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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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Anurag Pathak
Anurag Pathak

Anurag Pathak is an academic teacher. He has been teaching Accountancy and Economics for CBSE students for the last 18 years. In his guidance, thousands of students have secured good marks in their board exams and legacy is still going on. You can subscribe his Youtube channel for free lectures

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