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The capital balances of partners Rap and Glow are as follows: Rap Glow January 1, 200A, beginning P100,000 P200,000 June 30, 200A, investment 50,000 September
The capital balances of partners Rap and Glow are as follows: Rap Glow January 1, 200A, beginning P100,000 P200,000 June 30, 200A, investment 50,000 September 30, 200A, drawing (100,000) Balance P150.000 P100,000 Their agreement is to share profit and loss based on average capital. How much is the share of Glow in the partnership's income of P450,000? a. P300,000 C. P262,500 b. P270,000 d. P180,000
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