4. A, B and C were in partnership. A and B sharing profits in the proportion of three to one and C receiving a salary of Rs. 250,000 plus 5% of the profit after charging his salary or 1/7 of the profit of the firm whichever is the large. Any excess of the latter over the former is, under the partnership agreement, to be charged to A. The profit for the year ended 31.12. 2008 was Rs. 20,70,000. You are required to show the distribution of the profit among the partners
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Explanation:
1,00,520
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