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Please do only if u can do in few minutes or else let others try. 63. A and B are partners in a firm sharing profits in the ratio of 2 : 1. On 1-4-2015 they 1 decide to admit C for share in profits with a guaranteed amount of 725,000 per annum. A undertook to meet the liability arising out of the guaranteed amount to C. The firm earned a profit of 375,000 for the year ended March 31, 2016. Prepare Profit and Loss Appropriation Account