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The following information was obtained from the records of Alben Traders, a partnership business with Albert and Bennie as partners, after the net profit was appropriated between the partners. R Partners' salaries 240 000 Interest on drawings 3 000 Interest on capital 60 000 Total share of remaining loss 24 000 Drawings 180 000 Which one of the following reflects the net profit? O A. R279 000 O B. R273 000 OC. R327 000 O D. R453 000

The following information was obtained from the records of Alben Traders, a partnership business with Albert and Bennie as partners, after the net profit was appropriated between the partners. R Partners' salaries 240 000 Interest on drawings 3 000 Interest on capital 60 000 Total share of remaining loss 24 000 Drawings 180 000 Which one of the following reflects the net profit? O A. R279 000 O B. R273 000 OC. R327 000 O D. R453 000

College Accounting, Chapters 1-27
College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter19: Accounting For Partnerships
Section: Chapter Questions
Problem 5CE
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The following information was obtained from the records of Alben Traders, a partnership business with Albert and Bennie as partners, after the net profit was appropriated between the partners. Partners' salaries 240 000 Interest on drawings 3 000 Interest on capital 60 000 Total share of remaining loss 24 000 Drawings 180 000 Which one of the following reflects the net profit? O A. R279 000 O B. R273 000 OC. R327 000 O D. R453 000
Transcribed Image Text:The following information was obtained from the records of Alben Traders, a partnership business with Albert and Bennie as partners, after the net profit was appropriated between the partners. Partners' salaries 240 000 Interest on drawings 3 000 Interest on capital 60 000 Total share of remaining loss 24 000 Drawings 180 000 Which one of the following reflects the net profit? O A. R279 000 O B. R273 000 OC. R327 000 O D. R453 000
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