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A b and c are partners …

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A b and c are partners sharing the profit and losses 2:3:5 ,on 1st july,2004,a ans b granted loans of ₹2,00,000 and ₹1,00,000 respectively to the firm.show the distribution of profits/losses for the year ended 31 march,2005,in the following cases: A. If the profits before interest for the year amounted to ₹7500. B. If the loss before interest for the year amounted to ₹7500

Posted by Ri Tesh 6 years, 8 months ago

CBSE > Class 12 > Accountancy

1 answers

Sarvagya Jain 6 years, 8 months ago

In both the cases interest on loan will be provided @6% p.a. even if the firm incurs a loss because these are charge against profit.

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