A,B & C are partners sharing ratio 2:1:1. On firm’s dissolution, firm has Assets Rs.80,000 & creditors 50,000.Expenses of realization were Rs.2,000. Half the assets realized 10% less %& half the assets realization above 20%. Creditors were due after month so they were paid under rebate of 6%p.a. find the profit.
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Explanation:
credits were partners sharing
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