Chapter 7 Partnerships TX-UK FA2023

Comments

1. Dead0k says

   July 12, 2024 at 2:14 pm

   4 months profits 40000
   8 months profits 80000
   out of annual 120000

   before change
   28000 12000 = 4 months = 40,000
   after change
   64000 16000 = 8 months = 80,000

   64000 is the the 80% of Elizabeth for 8 months profits after change. So proportionally 16000 is Henrys. Why Henry has 12800 then in your calculations?

   Log in to Reply

   • Dead0k says

     July 12, 2024 at 7:59 pm

     figured out that we deducted salaries from profits

     Log in to Reply