I need the answer as soon as possible Please be fast and don't...
90.2K
Verified Solution
Link Copied!
Question
Accounting
I need the answer as soon as possible
Please be fast and don't waste my turn please within 5 minutes 70. A, B and C are in partnership. A and B sharing profits in the ratio of 3 : 1 and C receiving an annual salary of 32,000 plus 5% of the profits after charging his salary and commission, or th of the profit of the firm whichever is more. Any excess of the latter over the former received by C is, under the partnership deed, to be borne by A and B in the ratio of 3 : 2. The profit for the year ended 31st March, 2011 came to 1,68,000 after charging C's salary. Show the distribution of profits among the partners
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
