A and B formed a partnership. The partnership agreement stipulates the following: Annual salary allowances of P80,000 for A and P40,000 for B. The partners share in profits and losses equally. The partnership earned profit of P100,000. How much is the share of B?
A and B formed a partnership. The partnership agreement stipulates the following: Annual salary allowances of P80,000 for A and P40,000 for B. The partners share in profits and losses equally. The partnership earned profit of P100,000. How much is the share of B?
Chapter15: Partnership Accounting
Section: Chapter Questions
Problem 11MC: Thandie and Marco are partners with capital balances of $60,000. They share profits and losses at...
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