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LLP CLASS WORK Ms Fork and Mr Spoon are running a LLP firm and they share their profits and losses equally. Their contributed capital was
LLP CLASS WORK
Ms Fork and Mr Spoon are running a LLP firm and they share their profits and losses
equally. Their contributed capital was $ and $ respectively. Each of
them had an annual income other of $ per year.
In YA and Mr Spoon had also rental income of $
The following are the adjusted profitslosses for: YA S$
Loss $
Loss $
Profit$
Determine the assessable income for each partner for YA and
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