Rachelle, Patrick, and Lorreyn formed the RPL Professional Partnership on April 1, 20X2, by contributing capital. They agreed that Lorreyn would receive P20,000 as manager of the firm, and the remainder will be divided according to the profit ratio of 34%, 44%, 22%, respectively. At the end of the month, the company had a net loss of P900,000. Discuss how the loss shall be distributed in no more than five (5) sentences
Rachelle, Patrick, and Lorreyn formed the RPL Professional Partnership on April 1, 20X2, by contributing capital. They agreed that Lorreyn would receive P20,000 as manager of the firm, and the remainder will be divided according to the profit ratio of 34%, 44%, 22%, respectively. At the end of the month, the company had a net loss of P900,000. Discuss how the loss shall be distributed in no more than five (5) sentences
Chapter21: Partnerships
Section: Chapter Questions
Problem 2BCRQ
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Rachelle, Patrick, and Lorreyn formed the RPL Professional
capital. They agreed that Lorreyn would receive P20,000 as manager of the firm, and the remainder will be
divided according to the profit ratio of 34%, 44%, 22%, respectively. At the end of the month, the company
had a net loss of P900,000. Discuss how the loss shall be distributed in no more than five (5) sentences.
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