Financial Accounting
Solutions
Financial Accounting
During the current year, Marsha Engles withdrew $4,000 monthly from the partnership of Engles and Cox Water Management Consultants. Is it possible that her share of partnership net income for tire current year might he more or less than $48,000? Explain.
Explain whether it is possible that the share of partners’ net income is more or less than the amount withdrawn?
Partnership : It is that form of organization which is owned and managed by two or more persons who invest and share the profits and losses according to a pre-determined ratio.
Yes, it is possible that the share of partners’ net income is more or less than the monthly amount withdrawn...
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