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Thursday enterprise is a partnership firm in which Baqir, Basit and Bazid are partners sharing profits or losses equally.
Each partner's capital was as follows on 31 December 2019:
Baqir Rs.80,000
Basit Rs.60,000
Bazid Rs.75,000
Required:
Question 1: Prepare capital account of each partner on 31 December 2019.
Prepare a statement of cash flows using the indirect method. Compute free cash flow.
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