ILLUSTRATION 25.
(Credit) and 78,000 (Debit) respectively on 1st April, 2015 :
Their partnership deed provides the following:
interest on drawings @ 6% p.a.
commission.
commission and clause (iſ) above.
(iv) Z is entitled to a rent of 1,000 per month for the use of his premises by
firm.
the month and Z 2400 at the end of every month.
Y and Z are in partnership with capitals of 1,20,000 (Credit), 1.
(1) Partners are to be allowed interest on capitals @ 5% p.a. and are to be that
(ii) X is entitled to a commission of 10% of the net profit before charging sue
(iii) Y is also entitled to a commission of 10% of the net profit after charging as
During the year, X withdrew 200 at the beginning of every month, Y 3300 during
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