Question
Partners De Guzman and Tugade receive a salary allowance of P30,000 and P70,000, respectively, and share the remainder equally. If the company earned P40,000 during
Partners De Guzman and Tugade receive a salary allowance of P30,000 and P70,000, respectively, and share the remainder equally. If the company earned P40,000 during the period, what is the effect on Tugade's capital?
a. P30,000 decrease b. P40,000 increase c. P50,000 increase d. P90,000 increase
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The Principles And Practice Of Auditing
Authors: George Puttick, Sandra Van Esch
7th Edition
0702137723, 978-0702137723
