Accounting Principles - Standalone book
Accounting Principles - Standalone book
12th Edition
ISBN: 9781118875056
Author: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
Publisher: WILEY
Question
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Chapter 12, Problem 6Q
To determine

Dividing net income or net loss: The partners share the net income or net loss in the equal ratio unless otherwise agreed in the partnership agreement.

To explain: The proportion in which net income or net loss is to be distributed.

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