Case 3. In the Articles of Partnership, the distribution of profits and losses would a. Kim. 30% of profits b. Salary of P50,000 each to Tak and Gu c. Remaining profit or loss: Tak, 2/5; Gu, 3/5. be: 14. How much is the share of Tak from the profit during 20x2? a. P 80,000 b. P 77,200 c. P 50,000 d. Not given ng 15. How much is the share of Gu from the profit during 20x2? at a. P 90,800 b. P 77,200 c. P 72,000 d. Not given to
Partnership Accounting
A partnership is a kind of arrangement between two or more people whereby they agree to manage the business operations and share its profits and losses in an agreed ratio between them. The agreement that is drafted and signed by the partners of the firm is termed as partnership deed and contains various important clauses agreed between the partners such as profit/loss sharing, interest on capital, remuneration allocation of each partner, drawings, admission of a new partner, etc.
Partner Admission and Withdrawal
A partnership is a kind of arrangement between two or more people whereby they agree to manage the business operations and share its profits and losses in an agreed ratio between them. The agreement that is drafted and signed by the partners of the firm is termed as a partnership deed and contains various important clauses agreed between the partners such as profit/loss sharing, interest on capital, remuneration allocation of each partner, drawings of a partner, etc.
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