Examlex

Solved

The ABC Partnership Had Net Income of $100,000 for 20X9

question 52

Essay

The ABC partnership had net income of $100,000 for 20X9.They allocate profits and losses in the ratio 5:3:2.After closing the 12/31/20X9 books they discovered that $30,000 was spent on a piece of land in December 20X9 and was expensed.What should happen?


Definitions:

Related Questions