1. If each partner received P30,000 (ignore income tax) on the residual profit after salaries, interest and bonus, the net income reported by the partnership during the 1ª 6-months of operation is: 2. Considering your answer in No. 1, the capital balance of Marvin on December 31, 2018 is:
1. If each partner received P30,000 (ignore income tax) on the residual profit after salaries, interest and bonus, the net income reported by the partnership during the 1ª 6-months of operation is: 2. Considering your answer in No. 1, the capital balance of Marvin on December 31, 2018 is:
SWFT Essntl Tax Individ/Bus Entities 2020
23rd Edition
ISBN:9780357391266
Author:Nellen
Publisher:Nellen
Chapter14: Partnerships And Limited Liability Entities
Section: Chapter Questions
Problem 2BD
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