Question

A and B are partners sharing profits and losses in the ratio of 3:2. Their capital on 1 April 2020 were 50,000 and 60,000. Interest on capital is allowed at 10 % p.a. and Interest on drawing is charged at 10 % p.a. A is entitled to salary of 500 per month. B is entitled to commission at 5 % after charging all commission. ​

Answer 1

answer in attachment

Explanation:

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