Question

Abhay paid rupees 5,00,000 initially towards the purchase of stock of clothes. He then sold 3,00,000 of stock for 4,00,000 in cash and 50,000 of stock on credit for 80,000. Out of the stock sold on credit, goods costing rupees 25,000 were returned as being defective. What will be the amount of closing stock with the firm?
(1 marker question)
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Answer 1

Answer:

Partnership Deed is a written agreement among the partners of a partnership firm. It includes agreement on profit sharing ratio, salaries, commission of partners, interest provided on partner’s capital and drawings and interest on loan given or taken by the partners, etc. Generally following details are included in a partnership deed.

Answer 2

Answer:

Hiiiiiiiiiiiiiiiiiii!

Good morning..