partners De Guzman and Tugade receive a salary allowance of P30,000 and P70,000, respectively, and share the remainder equally. Ifthe company earned P40,000 during the period, what is the effect on Tugade’s Capital?
partners De Guzman and Tugade receive a salary allowance of P30,000 and P70,000, respectively, and share the remainder equally. Ifthe company earned P40,000 during the period, what is the effect on Tugade’s Capital?
Chapter13: Choice Of Business Entity—general Tax And Nontax Factors/formation
Section: Chapter Questions
Problem 43P
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partners De Guzman and Tugade receive a salary allowance of P30,000 and P70,000, respectively, and share the remainder equally. Ifthe company earned P40,000 during the period, what is the effect on Tugade’s Capital?
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