X, Y and Z are in partnership. X receives a salary of $14,000. If the profits for the year are $80,000 and the partners share profits equally, what is Y's share of the profits? A $14,000 B $22,000 C $26,000 D $26,667
X, Y and Z are in partnership. X receives a salary of $14,000. If the profits for the year are $80,000 and the partners share profits equally, what is Y's share of the profits? A $14,000 B $22,000 C $26,000 D $26,667
Chapter15: Partnership Accounting
Section: Chapter Questions
Problem 12MC: Thandie and Marco are partners with capital balances of $60,000. They share profits and losses at...
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X, Y and Z are in
partners share profits equally, what is Y's share of the profits?
A $14,000
B $22,000
C $26,000
D $26,667
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