Solution manual fundamentals of accounting by cabrera chapter 04 SM

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... balance of P27,000 less the P1,000 of accumulated withdraws in excess of the P4,000 annual limit (P1,000 + P500 + P3,500 – P4,000) 10 Chapter Test Material 4-3 Requirement (1) The advantage of using... losses to the partners This allocation is important because one of the main points of contention among partners is the sharing of profits and losses Learning this material should help partners design... (30,000) P250,000 Dreamer Smallville Total Interest—10% of beginning capital Salary Allocation of remaining loss (P80,000 divided on a 5:2:3 basis) Totals ASSIGNMENT OF INCOME—YEAR TWO Willow
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