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Glencoe Accounting: First Year Course, Student Edition | 1st Edition | ISBN: 9780078688294 | Authors: Glencoe
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Determining Partners Fractional Shares Following are the ratios used by several

Chapter 27, Problem 27-2

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QUESTION:

Determining Partners’ Fractional Shares

Following are the ratios used by several partnerships to divide net income or net loss.

Instructions Determine the fractions that are used to calculate each partner’s share of net income or net loss. Use the form provided in your working papers.

1. 3:1                                 4. 2:1:1

2. 5:3:1                              5. 2:1

3. 3:2:2:1

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QUESTION:

Determining Partners’ Fractional Shares

Following are the ratios used by several partnerships to divide net income or net loss.

Instructions Determine the fractions that are used to calculate each partner’s share of net income or net loss. Use the form provided in your working papers.

1. 3:1                                 4. 2:1:1

2. 5:3:1                              5. 2:1

3. 3:2:2:1

ANSWER:

Step 1 of 6

The remaining value of sales revenue after deducting the overall expenses of business operations is known as net income.

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