Question
SANDHILLCo. reports profit of $75,400for the current year. Partner salary allowances are J. Moses $25,900; T. Eaton $31,700; and M. Tung-Ching $6,300. The profit and
SANDHILLCo. reports profit of $75,400for the current year. Partner salary allowances are J. Moses $25,900; T. Eaton $31,700; and M. Tung-Ching $6,300. The profit and loss ratio is 6:2:2. Calculate the division of profit to each partner.
Profit allocated to partners
J. Moses?
T. Eaton?
M. Tung-Ching?
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Managerial Accounting
Authors: James Jiambalvo
3rd Edition
0470038152, 978-0470038154
