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27. A partnership has the following accounting amounts: Sales P 700,000, Cost of goods sold 400,000, Operating expenses 100,000, Salary allocations to partners 130,000, Interest paid to banks 20,000, Partners' drawings 80,000. What is the partnership net income (loss)? * (30,000) 200,000 180,000 50,000

27. A partnership has the following accounting amounts: Sales P 700,000, Cost of goods sold 400,000, Operating expenses 100,000, Salary allocations to partners 130,000, Interest paid to banks 20,000, Partners' drawings 80,000. What is the partnership net income (loss)? * (30,000) 200,000 180,000 50,000

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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27. A partnership has the following accounting amounts: Sales P 700,000, Cost of goods sold 400,000, Operating expenses 100,000, Salary allocations to partners 130,000, Interest paid to banks 20,000, Partners' drawings 80,000. What is the partnership net income (loss)? * (30,000) 200,000 O 180,000 50,000
Transcribed Image Text:27. A partnership has the following accounting amounts: Sales P 700,000, Cost of goods sold 400,000, Operating expenses 100,000, Salary allocations to partners 130,000, Interest paid to banks 20,000, Partners' drawings 80,000. What is the partnership net income (loss)? * (30,000) 200,000 O 180,000 50,000
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