Anton, Berty and Carol are in partnership without an agreement. However, Carol is entitled to rent from
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Anton, Berty and Carol are in partnership without an agreement. However, Carol is entitled to rent from the partnership at £2,000 per month, while Berty has provided a loan of £50,000 to the partnership. The partnership profit for the year ended 31 December 2008, without deducting rent payable to Carol and any interest to Berty, is £438,400. 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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