X, Y and Z entered into partnership on 1st October, 2021 to share profits in the ratio of 4: 3: 3. X, personally guaranteed that Z’s share of profit after charging interest on capital @ 10% p.a. would not be less then Rs. 80,000 in any 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, 2022 was Rs. 1,60,000. Prepare Profit and Loss Appropriation Account.


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