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9. A and B share in partnership profits and ratio. During the year, A's capital account had a net increase of PS0,000. Partner A made contributions of P10,000 and capital withdrawals of P60,000 during the year. How much was the share of B in the partnership profit for the year? a 100,000 b. 150,000 c. 200,000 d. 180,000

9. A and B share in partnership profits and ratio. During the year, A's capital account had a net increase of PS0,000. Partner A made contributions of P10,000 and capital withdrawals of P60,000 during the year. How much was the share of B in the partnership profit for the year? a 100,000 b. 150,000 c. 200,000 d. 180,000

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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9. Under Millan book. This is not a part of our exam but is included in the reference book and I want to review its answer.

9. A and B share in partnership profits and losses on a 40:60 ratio. During the year, A's capital account had a net increase of P50,000. Partner A made contributions of P10,000 and capital withdrawals of P60,000 during the year. How much was the share of B in the partnership profit for the year? a. 100,000 ь. 150,000 c. 200,000 d. 180,000
Transcribed Image Text:9. A and B share in partnership profits and losses on a 40:60 ratio. During the year, A's capital account had a net increase of P50,000. Partner A made contributions of P10,000 and capital withdrawals of P60,000 during the year. How much was the share of B in the partnership profit for the year? a. 100,000 ь. 150,000 c. 200,000 d. 180,000
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