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This information was taken from an internal newsletter of The Knowledge Partnership LLP (TKP), a company which offers project and software consultanc
8 P and Q are in partnership, sharing profits in the ratio 2:1. On 1 July 2004 they admitted P’s son R as a partner. Pguaranteed that R’s profit shar
18 How should interest charged on partners’ drawings appear in partnership financial statements?A As income in the income statementB Added to net pro
(ii) Analyse the effect of delaying the sale of the business of the Stiletto Partnership to Razor Ltd until30 April 2007 on Clint’s income tax and na
3 The Stiletto Partnership consisted of three partners, Clint, Ben and Amy, who shared the profits of the businessequally. On 28 February 2007 the pa
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