4. Partners and have Capitals ? 4,00,000 and 23,00,000 respectively as on 1st January,
2019. P advanced 20,000 to Partnership firm on 1st July, 2019 as loan. There was no
agreement as to payment of interest on loan. The profits for year ended 31st December
2019 amounted to 52,000 prior to provision for interest, if any, either upon loan or capital
20% of this profit is to be transferred to a reserve account. The partners cannot agree either as to proportion in which profits are to be divided or upon question of interest. How will you divide profits assuming that there is no Partnership deed
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Answer:
52,0000
20/100
Explanation:
the above is ans
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