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On March 1, 2016, Felipe Opiso formed a partnership with Ferdinand Rodriguez and made the following contributions:
Cash P350, 000
Non- Cash 100, 000
Problem 1: At year end, Opiso received a share of P32, 000 on the P80, 000 profit. What is the share of Rodriquez on the partnership profit?
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What are the income or loss shares of the annual partners if the partnership income is $87,000 - Distribution of Income or loss to partners
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