Question

28. A, B and C were Partners with capitals of 50,000; 740,000 and 30,000
respectively carrying on business in partnership. The firm's reported profit for the year 80,000. As per provision of th Indian partnership act 1932. Find out the share of each partner in the above amount after taking into amount that no interest has been provided on an advance be A of 20000 in addition to his capital contribution

Answer 1

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