Question - 07 

Ashok, Brijesh and sheena are partner sharing profit and losses in the rationof 2:2:1. Ashok and Brijesh have guarnteed that Sheena share in any year shall be less than Rs. 20,000 the net profit for year ended 31st March, 2006 amounted to Rs. 70,000, prepare profit and loss Appropriation Account without agreement the deficiency amount share is equally between partners.

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