• Sales = P70,000 %3D • Cost of Goods Sold P40,000 %3D Operating Expenses P10,000 Salary allocations to partners = P13,000 • Interest paid to banks =P2,000 Partners' withdrawals P8,000 Partnership net income is:
• Sales = P70,000 %3D • Cost of Goods Sold P40,000 %3D Operating Expenses P10,000 Salary allocations to partners = P13,000 • Interest paid to banks =P2,000 Partners' withdrawals P8,000 Partnership net income is:
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
help me answer this please
![A partnership has the following accounting amounts:
• Sales
P70,000
• Cost of Goods Sold P40,000
Operating Expenses = P10,000
Salary allocations to partners = P13,000
• Interest paid to banks P2,000
Partners' withdrawals P8,000
Partnership net income is.
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Transcribed Image Text:A partnership has the following accounting amounts:
• Sales
P70,000
• Cost of Goods Sold P40,000
Operating Expenses = P10,000
Salary allocations to partners = P13,000
• Interest paid to banks P2,000
Partners' withdrawals P8,000
Partnership net income is.
• Previous
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