Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. flag question in the end of the year the partner w

Flag question in the end of the year the partner withdrawal must be closed in...

60.1K

Verified Solution

Question

Accounting

image
image
image
Flag question in the end of the year the partner withdrawal must be closed in capital partner loan Select one: O True False Sameer and Sami are two partners in partnerships divided profit & loss 5:3 respectively, at the year ended 2018 the net income of the partnership $ 60,000 if Sameer received $ 40,000 Bonus and Sami received $ 4000 salary for managing the partnership what are the share of Sameer from remaining profit Select one: a. 6,000 b. 16,000 C. 46,000 O d. 10,000 The distribution of cash to partners in a partnership liquidation is made based on the partners' income sharing ratio Select one: O True O False

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students