Question

A and 8 are partners sharing profits and losses in the ratio of 3 : 1. On 1st April, 2019, their capitals were
A 50,000 and B 30,000. During the year ended 31st March, 2020, the firm earned a net profit of 50,000
The terms of partnership are
(a) Interest on capital is to be allowed 6% pa.
b) A will get a commission 2% on turnover.
d) B will get a salary of 500 per month
1) 8 will get commission of 5% on profits after deduction of all expenses including such commission​

Answer 1

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Answer 2

Answer:

Exactly

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