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A and B are partners with …

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A and B are partners with a profit-sharing ratio of 2:1 and capitals of 3,00,000 and 2,00,000 respectively. The are allowed 6% p.a. interest on their capitals and are charged 10% p.a. interest on their drawings. Their drawings during the year were A ? 60,000 and B 40,000. B's share of net profit as per profit and loss appropriation account amounted to 40,000. Net Profit of the firm before any appropriations was:

Posted by ... 888 1 year ago

CBSE > Class 12 > Accountancy

2 answers

Aseem Mahajan 1 year ago

everything is useless

Vishal Kashyap 1 year ago

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