Q1. A and B are partners. The net divisible profit as per Profit and Loss Appropriation A/c is 2,50,000. The total interest on partner?s drawing is 4,000. A?s salary is 4,000 per quarter and B?s salary is 40,000 per annum. Calculate the net profit/loss earned during the year.
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Profit earned by the partners is $202000
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