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Problem 1: On March 31, 2020, TAYLOR and SWIFT contributed cash of ?100,000 and ?75,000, respectively. They agreed that profit will be distributed equally. During the year, the business had a net loss of ? 50,000. What is the share of Taylor and Swift, respectively in the net loss?
a. ? (25,000) and (25,000)b. no share is to be given because it's a lossc. ? (28,571) and (21,429)d. ? (18,750) and (18,750)
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