78 :- X, Y, and Z entered into a partnership on 1st October 2024 to share profits in the ratio of 4:3:3. X, personally guaranteed that Z’s share of profit after allowing interest on capital @ 10% p.a. would not be less than Rs 80,000 in a year. Capital contributions were: X – Rs 3,00,000, Y – Rs 2,00,000, and Z – Rs 1,50,000.
Profit for the year ended 31st march 2025 was Rs 1,60,000. Prepare profit and loss appropriation account.
Solution :-
