Murali & Co. a partnership firm consisting of 3 partners is engaged in the textile trade. Its net profit before allowing interest on capital and working partner salary to partners was ₹ 9 lakhs. The partnership deed does not provide for interest on capital. It provides for working partner salary at ₹ 25,000 per month each for all the 3 partners. The income of the firm after the allowance of working partner salary would be:

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Question:
Murali & Co. a partnership firm consisting of 3 partners is engaged in the textile trade. Its net profit before allowing interest on capital and working partner salary to partners was ₹ 9 lakhs. The partnership deed does not provide for interest on capital. It provides for working partner salary at ₹ 25,000 per month each for all the 3 partners.
The income of the firm after the allowance of working partner salary would be:

1.₹ 90,000

2. ₹ 2,70,000

3.Nil

4. ₹ 3,60,000

Posted Date:-2022-08-28 04:32:23

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