Exercise 3-8 ( Computation of Partnership Profit) wwwwww Marte, a partner in the Tiple M Partnership, has a 25% particpation in rft. Marte's captal account had a net decrease of P240,00 during the year 2019. During 2019, Marte withdrew P520,000 charged againthis cpital acunt) and invested in the partnership a property with a fair value of P100,000 Instructions: Determine the profit of the Triple M Partnership for the year 2019.
Exercise 3-8 ( Computation of Partnership Profit) wwwwww Marte, a partner in the Tiple M Partnership, has a 25% particpation in rft. Marte's captal account had a net decrease of P240,00 during the year 2019. During 2019, Marte withdrew P520,000 charged againthis cpital acunt) and invested in the partnership a property with a fair value of P100,000 Instructions: Determine the profit of the Triple M Partnership for the year 2019.
Chapter21: Partnerships
Section: Chapter Questions
Problem 57P
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![Exercise 3-8 ( Computation of Partnership Profit)
www
Marte, a partner in the Triple M Partnership, has a 25% participation in proft Marte's capital
account had a net decrease of P240,000 during the year 2019. During 2019, Marte withdrew
P520,000 (charged against his capital acount) and invested in the partnership a property with a
fair value of P100,000.
wwww
Instructions: Determine the profit of the Triple M Partnership for the year 2019.
Note:
You may modify your answer sheet to fit your solution.
Follow the instructions strictly. Answer what is asked only.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Ffa373824-49e0-4978-a792-449a9667b536%2F7102f9c0-1399-4baa-b05a-c36b279980b6%2F7fxeqn_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Exercise 3-8 ( Computation of Partnership Profit)
www
Marte, a partner in the Triple M Partnership, has a 25% participation in proft Marte's capital
account had a net decrease of P240,000 during the year 2019. During 2019, Marte withdrew
P520,000 (charged against his capital acount) and invested in the partnership a property with a
fair value of P100,000.
wwww
Instructions: Determine the profit of the Triple M Partnership for the year 2019.
Note:
You may modify your answer sheet to fit your solution.
Follow the instructions strictly. Answer what is asked only.
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