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The partners of a firm distributed …

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The partners of a firm distributed the profits for the year ended 31st March, s021, t1,50,000 in the ratio of 2:2:1without providing for the following adjustments (0 A and B were entitied to a salary of R1,500 per quarter. (in Cwas entitled to a commission of R18,000. (in A and C had guaranteed a minimum profit of T50,000 p.a. to B. () Profits were to be shared in the ratio of 3:3:2.
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