Q. 72. \( A, B \) and \( C \) were partners sharing profits and losses in the ratio of \( 3: 2: 1 \). Their capitals on 1st April, 2017 were : \( A ₹ 5,00,000 ; B ₹ 3,00,000 \) and \( C ₹ 2,00,000 \). \( A \) had personally guaranteed that in any year \( C \) 's share of profit after allowing interest on capital to all partners @ \( 8 \% \) p.a. and charging interest on drawings a 10\% p.a. will not be less than ₹ \( 1,00,000 \). The net profit for the year ended 31st March, 2018, before allowing or charging any interest amounted to \( ₹ 4,32,000 \). \( A \) has withdrawn \( ₹ 5,000 \) at the end of every month. \( B \) has withdrawn \( ₹ 15,000 \) at the end of every quarter. \( C \) has withdrawn \( ₹ 60,000 \) during the year. Prepare Profit and Loss Appropriation Account for the y

Question

Q. 72. A, B  and \( C \) were partners sharing profits and losses in the ratio of \( 3: 2: 1 \). Their capitals on 1st April, 2017 were : \( A ₹ 5,00,000 ; B ₹ 3,00,000 \) and \( C ₹ 2,00,000 \). \( A \) had personally guaranteed that in any year \( C \) 's share of profit after allowing interest on capital to all partners @ \( 8 \% \) p.a. and charging interest on drawings a 10\% p.a. will not be less than ₹ \( 1,00,000 \). The net profit for the year ended 31st March, 2018, before allowing or charging any interest amounted to \( ₹ 4,32,000 \). \( A \) has withdrawn \( ₹ 5,000 \) at the end of every month. \( B \) has withdrawn \( ₹ 15,000 \) at the end of every quarter. \( C \) has withdrawn \( ₹ 60,000 \) during the year. Prepare Profit and Loss Appropriation Account for the year 2017-18.