Franco and jason share income and losses in a 21 ratio, Ask an Expert

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Franco and Jason share income and losses in a 2:1 ratio after allowing for salaries to Franco of $15,000 and $30,000 to Jason. If the partnership suffers a $15,000 loss, by how much would Jason's capital account increase?

1. $20,000

2. $10,000

3. $40,000

4. $25,000

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9418222

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