Rachel and Monica run a boutique. The initial capital was ?120,000 for Rachel and ?180,000...
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Accounting
- Rachel and Monica run a boutique. The initial capital was ?120,000 for Rachel and ?180,000 for Monica. During the year:
- Rachel invested an additional ?15,000.
- Monica invested an additional ?25,000.
- The boutique made a net profit of ?35,000.
- The profit is shared in the ratio of their original capital contributions. Calculate:
- Net profit share for each.
- Ending capital balances for both.
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