[CBSE] Q. 88 Solution of Fundamentals of Partnership Firms TS Grewal Book (2024-25)

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Solution of Question number 88 of the Fundamentals of partnership firm chapter TS Grewal Book CBSE 2024-25 Edition.

Ashmit, Abbas, and Karman are partners sharing profits in the ratio of 3:2:1. Abbas is guaranteed a minimum profit of ₹ 1,50,000 per annum. The firm incurred a loss for the year ended 31st March 2024 of ₹ 30,000.

Prepare Profit and Loss Appropriation Account for the year.

[Ans: Abbas will get guaranteed amount of ₹ 1,50,000; Total Loss of ₹ 1,80,000 will be shared by Ashmit and Karman in 3 : 1 ratio.]

Solution:-

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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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