The partnership started its business on January 1, 2021,calendar year. Partner Beta had a beginning capital of P45,000 and made additional capital contributions during 2021 totaling P50,000. During the year 2021, Beta withdrew P3,000 per month. Beta's post-closing capital balance on December 31, 2021 is P80,000. Beta's share of 2021 partnership income is
The partnership started its business on January 1, 2021,calendar year. Partner Beta had a beginning capital of P45,000 and made additional capital contributions during 2021 totaling P50,000. During the year 2021, Beta withdrew P3,000 per month. Beta's post-closing capital balance on December 31, 2021 is P80,000. Beta's share of 2021 partnership income is
Chapter4: Gross Income: Concepts And Inclusions
Section: Chapter Questions
Problem 12DQ
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Transcribed Image Text:The partnership started its business on January 1, 2021,calendar year.
Partner Beta had a beginning capital of P45,000 and made additional capital contributions during 2021 totaling P50,000. During the
year 2021, Beta withdrew P3,000 per month. Beta's post-closing capital balance on December 31, 2021 is P80,000. Beta's share of
2021 partnership income is
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