Question
os and Malik share income and losses in a 2:1 ratio after allowing for salaries of $20,000 and $35,000. If the partnership suffers a $20,000
os and Malik share income and losses in a 2:1 ratio after allowing for salaries of $20,000 and $35,000. If the partnership suffers a $20,000 loss, by how much would Joss capital account change?
| a. | $30,000 decrease | |
| b. | $25,000 decrease | |
| c. | $10,000 decrease | |
| d. | $10,000 increase |
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Audit Analysis Part 1 Facts Of Auditing
Authors: Dr. L. KAILASAM
1st Edition
1670149455, 978-1670149459
