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ILLUSTRATION 25.(Credit) and 78,000 (Debit) respectively on 1st April, 2015 :Their partnership deed provides the following:interest on drawings @ 6% p.a.commission.commission and clause (iſ) above.(iv) Z is entitled to a rent of 1,000 per month for the use of his premises byfirm.the month and Z 2400 at the end of every month.Y and Z are in partnership with capitals of 1,20,000 (Credit), 1.(1) Partners are to be allowed interest on capitals @ 5% p.a. and are to be that(ii) X is entitled to a commission of 10% of the net profit before charging sue(iii) Y is also entitled to a commission of 10% of the net profit after charging asDuring the year, X withdrew 200 at the beginning of every month, Y 3300 during |
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Answer» Explanation: |
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