Partnership Agreement Details for Profit Distribution (Financial Year: 1 May 2020 - 30 April 2021):
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Here are the calculations for the capital and current accounts of the partners as at 30 April 2021.
Partnership Agreement Details for Profit Distribution (Financial Year: 1 May 2020 - 30 April 2021):
1. Interest on Capital: 10% p.a.
Gerald Le Roux: R600,000 (capital balance at 30 April 2021)
Interest = $R600,000 \times 10\% = R60,000$
Simon Brown: R750,000 (capital balance at 30 April 202
