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Partners Y and Z receive a salary of $15,000 and $30,000, respectively, and share income and losses in a 2:1 ratio, respectively. If the partnership
Partners Y and Z receive a salary of $15,000 and $30,000, respectively, and share income and losses in a 2:1 ratio, respectively. If the partnership suffers a $15,000 net loss in 2020, calculate the increase or decrease in their respective capital account ?
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Principles of Accounting
Authors: Needles, Powers, crosson
11th Edition
1439037744, 978-1133626985, 978-1439037744
