Sage And Onion Are Trading In Partnership Sharing Profits And Losses Equally Interes 2419191

Sage and Onion are trading in partnership, sharing profits and losses equally. Interest at 5% per annum is allowed or charged on both the capital account and the current account balances atthe beginning of the year. Interest is charged on drawings at 5% per annum. The partners are entitled to annual salaries of: Sage £12,000; Onion £8,000.

Prof. Angela


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