Rehman started a partnership with Mohan and Lew by contributing RM10, 000, RM12000 and RM12, 000 respectively.
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Question:
Rehman started a partnership with Mohan and Lew by contributing RM10, 000, RM12000 and RM12, 000 respectively. Lew will be the active partner and manage the partnership. They agreed to share the profit according to a ratio of40:30:30. During the first year of operation, the
partnership made a profit of RM18, 000.
Required:
A) Calculate their individual profit according to the partnership agreement
B) Is this partnership allowed in Islamic financing system? Justify
Related Book For
Accounting
ISBN: 978-1118608227
9th edition
Authors: Lew Edwards, John Medlin, Keryn Chalmers, Andreas Hellmann, Claire Beattie, Jodie Maxfield, John Hoggett
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