A and B are partners who share profits and losses in the ratio of 60%; 40% respectively. • A's salary is P300,000 and P250,000 for B's. . The bonus shall be given to A amounting to P50,000. • The partners are also paid interest ofP300,000 and P400,000, respectively. If the partnership suffered a loss of P500,000. Compute for A's share in the partnership loss. Encode as a negative amount if the answer is negative.
Partnership Accounting
A partnership is a kind of arrangement between two or more people whereby they agree to manage the business operations and share its profits and losses in an agreed ratio between them. The agreement that is drafted and signed by the partners of the firm is termed as partnership deed and contains various important clauses agreed between the partners such as profit/loss sharing, interest on capital, remuneration allocation of each partner, drawings, admission of a new partner, etc.
Partner Admission and Withdrawal
A partnership is a kind of arrangement between two or more people whereby they agree to manage the business operations and share its profits and losses in an agreed ratio between them. The agreement that is drafted and signed by the partners of the firm is termed as a partnership deed and contains various important clauses agreed between the partners such as profit/loss sharing, interest on capital, remuneration allocation of each partner, drawings of a partner, etc.
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