=+Question 2 (Based on ICAI, P2 Autumn 2001) Law and Order are partners in a solicitors partnership

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=+Question 2 (Based on ICAI, P2 Autumn 2001)

Law and Order are partners in a solicitors’ partnership sharing profits in the ratio 3:2. The year end of the partnership is 31 December. The summarised balance sheet of the partnership as at 31 December 1999 is as follows:

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