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Rita and Paul share profits and losses in the ratio 3:2. At the beginning of...

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Accounting

  • Rita and Paul share profits and losses in the ratio 3:2. At the beginning of the year, their capital balances were ?120,000 and ?80,000 respectively. The net profit for the year is ?60,000. Calculate their ending capital balances assuming they withdrew ?10,000 and ?5,000 respectively during the year.

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