[ISC] Q. 79 Solution of Fundamentals of Partnership Firms TS Grewal Book (2024-25)

Solution of Question Number 79 of the Fundamentals of Partnership Accounts (Firm) chapter TS Grewal Book 2024-25 Edition ISC Board.

Adil, Bilal and Ramiz are in partnership sharing profits and losses in the ratio of 4 : 2 : 1 respectively. It was provided that Ramiz’s share in profit would not be less than ₹ 7,500 in a year. Profit for the year ended 31st March, 2024 was ₹ 31,500.

You are required to pass the Journal entries and prepare Profit & Loss Appropriation Account.

Solution:-

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