Answered: If partners A & B agreed to divide…

If partners A & B agreed to divide profits and losses in the ratio of 60% and 40% respectively. How much would be the share of A if the partnership profit for the year is P275,000?

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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Question

If partners A & B agreed to divide profits and losses in the ratio of 60% and 40% respectively. How much would be the share of A if the partnership profit for the year is P275,000?

Definition Definition Amount earned or lost on the sale of one or more items is referred to as the profit or loss on that item

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