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Connect O |凸newconnect.mheducation.com/flow/connect.html Chapter 12 Partnership Income or Loss 7 Required information income (Loss) Sharing Plan Plan (a) Net Income (loss) Belance allocated equally Balance of inoome (loss) Shares to the partners Plan (h) Net Income (loss) Balance allocated in proportion to Part 1 of 3 Mo $ 540,00 m.11 points 0 5 540,000 0 0 이 Plan (to) Lu $ 540,000 0 3 540,000 ebook initial investments Balance of inoome (loss) Shares to the partners 0 Print 0l $ lan (c) Mo Barb Total 3 540,000 Salary allowanoes Balance of income (loss) Interest allowanoes Balance of inoome (loss) Balance alo med Balance of inoome (loss) Shares of the patners ReterencW 0l $
Expert Answer
Hi,
Please note that in Part 2 answer it is said that use Method C, using which we get net loss if we use the same data for salaty allowance and interst allowance. Accordingly net loss is distributed later in the ration of 20:40:40.
In Part 3 also there is a difference in withdrawl figures in the question itself. I have used figures given later.
Feel free to reach via comments for any doubts clearance.
Answer to PArt 1
Answer to Part 2 & 3
