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? OA R279 000 B. R273 000 C.R327 000 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. 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? OA R279 000 B. R273 000 C.R327 000 D.R453 000
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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