Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Sameer and Sami are two partners in partnerships, divided profit & loss 5:3 respectively , at the year ended 2018 the net income of the

Sameer and Sami are two partners in partnerships, divided profit & loss 5:3 respectively , at the year ended 2018 the net income of the partnership $ 60,000 if Sameer received $ 40,000 Bonus and Sami received $ 4000 salary for managing the partnership what are the share of Sameer from remaining profit
Select one:
a. 46,000
b. 6,000
c. 10,000
d. 16,000
if X AND Y are two partner, the income ratio are 1:2 respectively if net income for 2019 was 36,000 what are the share of Y partner from net income
Select one:
a. 18,000
b. 12,000
c. 16,000
d. 24,000

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Trends In Managerial And Financial Accounting Volume 1

Authors: Cees Van Dam

1978 Edition

9020706934, 978-9020706932

More Books

Students also viewed these Accounting questions

Question

=+16. Return to the puncture test data given in Exercise 15.

Answered: 1 week ago

Question

Describe Balor method and give the chemical reaction.

Answered: 1 week ago

Question

How to prepare washing soda from common salt?

Answered: 1 week ago