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A and B formed a partnership. The partnership agreement stipulates the following: • Annual salary allowances of P80,000 for A and P40,000 for B. • The partners share in profits and losses equally. The partnership earned profit of P100,000. How much is the share of B? D 30,000 D 48,000 O 52,000 D 70,000

A and B formed a partnership. The partnership agreement stipulates the following: • Annual salary allowances of P80,000 for A and P40,000 for B. • The partners share in profits and losses equally. The partnership earned profit of P100,000. How much is the share of B? D 30,000 D 48,000 O 52,000 D 70,000

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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A and B formed a partnership. The partnership agreement stipulates the following: • Annual salary allowances of P80,000 for A and P40,000 for B. • The partners share in profits and losses equally. The partnership earned profit of P100,000. How much is the share of B? 30,000 48,000 52,000 70,000
Transcribed Image Text:A and B formed a partnership. The partnership agreement stipulates the following: • Annual salary allowances of P80,000 for A and P40,000 for B. • The partners share in profits and losses equally. The partnership earned profit of P100,000. How much is the share of B? 30,000 48,000 52,000 70,000
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