Question
The balances of the partners’ capital accounts are as follows: L R60 000, M R80 000 and
S R100 000. The profit for the past year was R48 000. ) Partner L gets a salary of R30 000 per annum. Each partner is entitled to 8% interest
per year on their capital. The balance is divided among L, M, and S in the ratio 2:3: 5. Divide the profit among the partners.
S R100 000. The profit for the past year was R48 000. ) Partner L gets a salary of R30 000 per annum. Each partner is entitled to 8% interest
per year on their capital. The balance is divided among L, M, and S in the ratio 2:3: 5. Divide the profit among the partners.
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