Dar and Ling share in the partnership’s profit in the ratio of 2:1 respectively. Dar received 245,000 as his share. How much did Ling receive as his share? A. 367,000 B. 245,000 C. 122,500 D. 122,000
Dar and Ling share in the partnership’s profit in the ratio of 2:1 respectively. Dar received 245,000 as his share. How much did Ling receive as his share? A. 367,000 B. 245,000 C. 122,500 D. 122,000
Chapter15: Partnership Accounting
Section: Chapter Questions
Problem 2EA: The partnership of Chase and Chloe shares profits and losses in a 70:30 ratio respectively after...
Related questions
Question
Dar and Ling share in the
245,000 as his share. How much did Ling receive as his share?
A. 367,000
B. 245,000
C. 122,500
D. 122,000
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Principles of Accounting Volume 1
Accounting
ISBN:
9781947172685
Author:
OpenStax
Publisher:
OpenStax College
Principles of Accounting Volume 1
Accounting
ISBN:
9781947172685
Author:
OpenStax
Publisher:
OpenStax College