Accounting 0452 · IGCSE · Partnerships

Partnerships — practice question

Rajid and Sunil set up a partnership on 1 January 2019, but they did not make a partnership agreement. The information below was given. Capital brought in on 1 January 2019: Rajid $40000, Sunil $20000 Withdrawals during the year ended 31 December 2019: Rajid $5000, Sunil $3500 Division of work: 50% each They planned to create a partnership agreement for later years. Which item would be most advantageous to Rajid in 2020?

  • Ainterest on capital
  • Binterest on drawings
  • Climit on annual drawings
  • Dpartnership salaries

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