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Mehesh an ramesh are partner in a firm sharing profit in the ratio of 5:3 respectively.their capital were 3 lakh and 2 lakh |
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Answer» Mahesh and Ramesh are partners In a firm sharing profit in the ratio 5:3 there capital were rs3,00,000 and rs2,00,000 RESPECTIVELY. The PARTNERSHIP DEED provided that. 1 INTEREST on capital should be allowed @ 12% per ANNUM. 2 a commission of 5% of net profit should be allowed to Ramesh. |
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