Assume that partners A and B share all profits and losses in the ratio of 3:2. Partner B has $100,000 credited to her Partnership Capital account when net income is allocated at year‐end. The amount of partnership net income for the year is ??? Why is the answer = $250,000?

Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter15: Partnership Accounting
Section: Chapter Questions
Problem 3EA: The partnership of Tasha and Bill shares profits and losses in a 50:50 ratio, and the partners have...
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Assume that partners A and B share all profits and losses in the ratio of 3:2. Partner B has $100,000 credited to her Partnership Capital account when net income is allocated at year‐end. The amount of partnership net income for the year is ???

Why is the answer = $250,000?

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