Question

nort Practical Questions
1. Ashok and Avi were partners in a firm, distribute profit and loss in 3:2. Their capitals were 7 40,000 and
*25,000 respectively. According to the deed, they were entitled to get 5% interest on capital before distributing
profit and loss. The profit of the firm for the year was 33,900 before deducting interest. Show how the profit
will be distributed and prepare their capital accounts.​

Answer 1

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