Question
A partnership between A and B are engaged in buy and sell of goods. One day, they got an order of Php200,000 worth of rose
A partnership between A and B are engaged in buy and sell of goods. One day, they got an order of Php200,000 worth of rose sugar flowers. B who was entrusted to buy the goods bought sugar flowers but not rose. The partnership suffered damages because of this.
a. What is the obligation of B?
b. If B is to receive a profit share of Php200,000, can B use this to pay off what he owes the partnership?
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Using Financial Accounting Information The Alternative to Debits and Credits
Authors: Gary A. Porter, Curtis L. Norton
7th Edition
978-0-538-4527, 0-538-45274-9, 978-1133161646
