Kwaku and Ekua are in partnership sharing profit the ratio 3:2. The net profit for the period was $12,000. Ekua is to receive an annual salary of $2000. there were no drawings during the year and the partners do not provide interest on capital account balances. What will be Kwaku's share of profit?
Kwaku and Ekua are in partnership sharing profit the ratio 3:2. The net profit for the period was $12,000. Ekua is to receive an annual salary of $2000. there were no drawings during the year and the partners do not provide interest on capital account balances. What will be Kwaku's share of profit?
Chapter13: Choice Of Business Entity—general Tax And Nontax Factors/formation
Section: Chapter Questions
Problem 43P
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Kwaku and Ekua are in
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