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in Commerce by (15 points)
Q. 105.(HOTS) Alex, John and Sam are partners in a firm. Their capital accoumb on 1 st April, 2021, stood at \( ₹ 1,00,000 \), ₹ 80,000 and \( ₹ 60,000 \) respectively. Each partner withdrew \( ₹ 5,000 \) during the financial year 2021-22. As per the provisions of their partnership deed : (a) John was entitled to a salary of ₹ 1,000 per month. (b) Interest on capital was to be allowed @10\% per annum. (c) Interest on drawings was to be charged @4\% per annum. (d) Profits and losses were to be shared in the ratio of their capitals. The net profit of \( ₹ 75,000 \) for the year ended 31 st March 2022 , was divided equaly amongst the partners without providing for the terms of the deed.

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