A and B share business in partnership on 1st April 2018 with capital of 75000 and 60000
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Question:
A and B share business in partnership on 1st April 2018 with capital of 75000 and 60000 respectively. As per partnership deed A is entitled to get 1200 salary per month. Profit ratio is 4:3. For the year ended the profit was 49000 before a getting the salary and interest on capital. Prepare an account showing interest of capital.
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