Absence of Partnership – Deed / or Silent  P.Deed?

• Profit Sharing Ratio      –       Equal

• Interest on Capital           –       Zero

• Interest on Drawing –       Zero

• Interest on Loan                   –       6 % P.A

• Remuneration                      –       Zero

• Personal Profit derived from firms business   –  Account for that in firm’s profits

• Personal Profit derived from using firms assets  – Account for that in firm’s profits