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Thomas and Robert joined in a Partnership share profit and losses in a proportion of 2:3-. The Net profit of the partnership is 20,000-. Thomas
Thomas and Robert joined in a Partnership share profit and losses in a proportion of 2:3-.
- The Net profit of the partnership is 20,000-.
- Thomas Partnership Salary is 2.000-.
- Interest on Capital Thomas is 1,500.
- Interest on Capital Robert is 1,500
- Drawings of Robert is 3,500
- Drawings of Thomas is 5,500
Requirement: Calculate the Profit Sharing for each partner (All Calculation Must Be Shown to the Nearest Euro)
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