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Find how much is the share of a in the partnership loss

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Reference no: EM132759336

A and B formed a partnership. The partnership agreement stipulates the following:

  • A and B shall maintain average investments of ?400,000 and ?600,000, respectively. Interest on the excess or deficiency in a capital contribution is to be computed at 10% per annum.
  • After interest allowances, the partners share profits and losses on a 60:40 ratio.

During the first six months of operations, the partnership incurred loss amounting to ?240,000. The average capital balances of the partners during this period were ?480,000 and ?440,000, respectively.

Problem 1: How much is the share of A in the partnership loss?

a. 137,600      c. 142,300

b. 102,400        d. 107,400

Reference no: EM132759336

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