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Prepare schedule to allocate partnership income to puti

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Question - Distribution of Profits or Losses based on partner's agreement Puti, Pula and Itim are partners who shares profits and losses 40:40:20, respectively, after Pula, who manages the partnership, receives a bonus of 10% of income after deducting the bonus. Partnership income for the year is P506,000.

Required - Prepare schedule to allocate partnership income to Puti, Pula and Itim?

Reference no: EM132958778

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