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How much is the share of partner b in the partnership profit

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A and B formed a partnership on March 1, 20x1. The partnership agreement stipulates the following:

  • Monthly salary allowances of ?10,000 for A and ?6,000 for B. Salary allowances are to be withdrawn by the partners throughout the period and are to be debited to their respective drawings accounts.
  • The partners share profits equally and losses on a 60:40 ratio. During the period the partnership earned profit of ?200,000 before salary allowances.

Problem 1: How much is the share of Partner B in the partnership profit?

Reference no: EM132808971

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