ACCOUNTING PRCINCIPLES (CCCS CUSTOM)
ACCOUNTING PRCINCIPLES (CCCS CUSTOM)
14th Edition
ISBN: 9781119845102
Author: Weygandt
Publisher: WILEY
Question
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Chapter 12, Problem 6Q
To determine

Dividing net income or net loss: The partners share the net income or net loss in the equal ratio unless otherwise agreed in the partnership agreement.

To explain: The proportion in which net income or net loss is to be distributed.

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