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Mr Leakey and Mrs Leakey formed a partnership business on 1 April with invested capital of £50,000 and £70,000 respectively. The profit for the 9 months ended 31 December was £24,300. Interest on capital was paid to the partners at 5% per annum.
(a) Calculate the interest paid to each of the partners for the 9-month period. Mrs Leakey received a salary of £1,350 per month.
(b) Calculate the salary received by Mrs Leakey for the 9-month period.
(c) Calculate the profit remaining after payment of interest and salary.
2. Compute and identify the import (or export) amount on the above diagram. It will be helpful to use a horizontal line to indicate the world price. 3. Between consumers and producers in Econia, which benefits from opening Econia to trade
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