The articles of partnership for a-b partnership provide for, Ask an Expert

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The articles of partnership for A-B partnership provide for a salary allowance of $5,000 per month for partner B, with the balance of net income to be divided equally. If B made an additional investment of $10,000 during the year and withdrew $4,000 per month, and net income for the year was $90,000, by what amount did B's capital increase during the year?

A) $60,000

B) $37,000

C) $85,000

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9797798

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