Partners JK and RM agreed to share profits in the following order…

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Question Answered step-by-step Partners JK and RM agreed to share profits in the following order… Partners JK and RM agreed to share profits in the following order of distribution:1. Interest of 10% on weighted average capital 2. Salaries of P60,000 to A and P40,000 to B 3. Residual profit, equally Loss is shared by JK and RM 40:60. Details of the capital accounts of JK and RM are shown as follows:                                                                                        JK                                                  RM The partnership made P120,000 net income. What is RM’s ending capital balance? Accounting Business Financial Accounting Share QuestionEmailCopy link Comments (0)

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