Alfred, Ben and Charles are in partnership without an agreement. The partnership profit for the year ended
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Alfred, Ben and Charles are in partnership without an agreement. The partnership profit for the year ended 31 March 2012, after writing off £58,400 as bad debts, has been determined as £398,000. The partners have agreed, however, that Alfred should bear £28,000 of the bad debt. Identify the share of partnership profit each partner is entitled to.
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Related Book For
Financial Accounting An Introduction
ISBN: 9780273737650
2nd Edition
Authors: Mr Barry Elliott, Mr Augustine Benedict
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