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A and B are partners sharing …

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A and B are partners sharing profits in the ratio 4:3. A contributed Rs. 300000 and B Rs. 100000 as their capital. The deed provided that interest on capital be allowed at 10% p.a. and salary be allowed to B as Rs. 2500 p.m. The net profit before providing interest on capital and salary amounts to Rs. 42000 for the year ended 31st March, 2017. Show the distribution of profit for the year.

Posted by Rohit Bhati 6 years ago

CBSE > Class 12 > Accountancy

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