A&B Associates is a partnership concern and as per terms of the partnership, their income ratio is
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A&B Associates is a partnership concern and as per terms of the partnership, their income ratio is based on the amount of initial investment. Mr. A initially invested Rs. 150,000 in the business, whilst Mr. B invested Rs. 100,000. During the year the business made a profit of Rs. 75,000. Mr. A decided to withdraw Rs. 15,000 for personal use, whereas Mr. B decided to take Rs. 10,000. At the end of the year, what is the total amount of Capital for Mr. A & Mr. B?
Related Book For
South-Western Federal Taxation 2019 Comprehensive
ISBN: 9781337703017
42th edition
Authors: David M. Maloney, William A. Raabe, William H. Hoffman, James C. Young
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