Answered: A and B are equal partners. Salary…

A and B are equal partners. Salary allowaces for both are 39000 and 34000. Net loss for the whole year period is $ 20000 Show all the allocations to each partner.

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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A and B are equal partners. Salary allowaces for both are 39000 and 34000.

Net loss for the whole year period is $ 20000

Show all the allocations to each partner.

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