Pan, a partner in the Pan and Tay Partnership has a 30% share in the partnership profit and loss. Her capital account balance has a net decrease of P60,000 in 2015. In 2015, she withdrew P130,000 against her capital and invested property valued at P25,000 in the partnership. How much is the profit of the partnership?
Pan, a partner in the Pan and Tay Partnership has a 30% share in the partnership profit and loss. Her capital account balance has a net decrease of P60,000 in 2015. In 2015, she withdrew P130,000 against her capital and invested property valued at P25,000 in the partnership. How much is the profit of the partnership?
Chapter4: Gross Income: Concepts And Inclusions
Section: Chapter Questions
Problem 12DQ
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Pan, a partner in the Pan and Tay
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