question_answer

You are required to answer the following questions 55 to 57: Three Partners A, B and C are doing well in business since last 8 years. B has provided his personal storeroom to the firm for the purpose of business, monthly Rent of Rs.2,000 to be paid by the firm for the same. They share profits in the ratio of 2:3:5. A was guaranteed a minimum profit of Rs.1,00,000. Any deficiency on this account was to be borne by B and C as 60% and 40%. The net profit of the firm for the year ended 31st March 2021 was Rs.4,74,000. Net profit transferred to Profit and Loss Appropriation Account:

A) 4,50,000

B) 4,74,000

C) 4,60,000

D) 4,98,000