capital ratio for partners A,B,C is 3:2:1 and divisible profit ... | Filo
capital ratio for partners A,B,C is 3:2:1 and divisible profit ... | Filo
7 months ago
askfilo.com
SOLVED: Mudit, Sudhir, and Uday are partners in a firm sharing profits and losses in the ratio of 3:1:1. Their fixed capital balances are 400,000, 160,000, and 120,000 respectively. The net profit for the year ended 31st March 2018 distributed among the partners was 100,000 without taking into account the following adjustments:1. Interest on capital @ 2.5% per annum.2. Salary to Mudit 18,000 and commission to Uday 12,000.3. Mudit was allowed a commission of 6% of the divisible profit after charg
SOLVED: Mudit, Sudhir, and Uday are partners in a firm sharing profi…
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