During the year, the ABC partnership's operations generated a loss. The partnership agreement provides for the following P/L sharing provisions: Interest of P2,000, P3,000, and P5,000 to partners A, B, and C, respectively Salary of P15,000 to partner A Any remainder is allocated equally. freshma freshman freshma If the share of partner A in the loss is P8,000, how much is the net loss for the period?
During the year, the ABC partnership's operations generated a loss. The partnership agreement provides for the following P/L sharing provisions: Interest of P2,000, P3,000, and P5,000 to partners A, B, and C, respectively Salary of P15,000 to partner A Any remainder is allocated equally. freshma freshman freshma If the share of partner A in the loss is P8,000, how much is the net loss for the period?
Chapter21: Partnerships
Section: Chapter Questions
Problem 11BCRQ
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During the year, the ABC partnership 's operations generated a loss. The partnership agreement provides for the following P/L sharing provisions:
Interest of P2,000, P3,000, and P5,000 to partners A, B, and C, respectively
Salary of P15,000 to partner A
Any remainder is allocated equally.
freshma
freshman
freshma
If the share of partner A in the loss is P8,000, how much is the net loss for the period?
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