Question

there is no partnership deed sajid feels that he has not been treated fairly you are required to prepare new profit and loss appropriation account according to provisions of indian partnership act​

Answer 1

Answer:

Answer

In the absence of a Partnership Deed,

(i) Interest on Partner's drawings is not allowed.

(ii) If the partner advances any loan towards the firm, he is entitled to an interest of 6 percent even if the firm is incurring losses.

Explanation:

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