Bamba and Balbin share profits and losses in the ratio of 1:2. Bamba receives a monthly salary of P150,000. If Bamba’s capital balance is P2,500,000 at the beginning of the year and P2,000,000 at the end of the year, and annual partnership after the salary allowance is P1,200,000, then Bamba withdrew?

Bamba and Balbin share profits and losses in the ratio of 1:2. Bamba receives a monthly salary of P150,000. If Bamba’s capital balance is P2,500,000 at the beginning of the year and P2,000,000 at the end of the year, and annual partnership after the salary allowance is P1,200,000, then Bamba withdrew?

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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