A and B are partners sharing profits in the ratio of 3 2 C was admitted for 1 6th share of profit wi......

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Accountancy ( 12th) Accounting for Partnership : Basic Concept Add to Study Deck

A and B are partners sharing profits in the ratio of 3 : 2. C was admitted for 1/6th share of profit with a minimum guaranteed amount of 10,000. At the close of the first financial year the firm earned a profit of 54,000. Find out the share of profit which A, B and C will get.

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