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What was the partnership profit or loss for the year

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Question - Delilah, a partner of SD Partnership, has a twenty-five percent participation in the partnership's operating results. During the year 2015, Delilah transferred machinery with an acquisition cost of P100,000 and a fair market value of P25,000 to the partnership, in addition to permanent weekly drawings of P250 for personal use. On December 31, 2015, Delilah's capital balance increased by P30,000. What was the partnership's profit (loss) for the year 2015?

Reference no: EM133176791

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