14. Chetan and Ketan are in partnership with capital of 1,50,000 and 1,00,000
respectively. For the year ending 31st December, 2018 they made a profit of 66,000
before allowing interest on capital at 10% per annum, interest on drawings at 12% per
annum irrespective of period and salary to Chetan at 1,000 per month. Their drawings
during the year were : Chetan 24,000 and Ketan 12,000 respectively.
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5 years
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