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A,b and c are partners with …

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A,b and c are partners with fixed capital of rs1,00,000 ;rs 2,00,000 ; and 3,00,000 respectively. Their partnership deed provides that. (a) A is to be allowed a monthly salary of rs 600 and B is to be allowed a monthly salary of rs 400. (b) C will be allowed commissions of 5% of the net profit after allowing salaries of A and B.(c) interest is to be allowed on capital @6%. (d) interest will be charged on partners annual drawing at 4% .(e) the annual drawing were:B rs10,000 and C rs 15,000. The net profit for the year ending 31 march,2016 amounted to rs 1,72,000 preparer profits and loss appropriation account

Posted by Mohit Chouhan 6 years, 8 months ago

CBSE > Class 12 > Accountancy

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