[NCERT] Q 28 Accounting for Partnership Basic Concepts Solutions Class 12 (2022-23)

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Solutions of Question number 28 of Accounting for Partnership Basic Concepts NCERT Accountancy solutions Class 12 CBSE Board 2022-23 Session?

Amit, Sumit and Samiksha are in partnership sharing profits in the ratio of 3 : 2 : 1. Samiksha’s share in profit has been guaranteed by Amit and Sumit to be a minimum sum of ₹ 8,000.

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Profits for the year ended March 31, 2017 was ₹ 36,000. Divide profit among the partners by preparing profit and loss appropriation account.

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[Ans: Profit to Amit ₹ 16,800; Sumit, ₹ 11,200; Samiksha, ₹ 8,000]

Solution:-

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