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?
Chapter13: Choice Of Business Entity—general Tax And Nontax Factors/formation
Section: Chapter Questions
Problem 43P
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Bamba and Balbin share
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ISBN:
9780357109731
Author:
Hoffman
Publisher:
CENGAGE LEARNING - CONSIGNMENT