Multiple Choice
Michael,Zoe and Perry are partners in the Andover Company.Their partnership income sharing agreement provides that Michael and Zoe are to receive salary allowances of $15,000 and $18,000,respectively,and that any remaining income or loss is to be divided equally among all partners.If the company had a loss of $30,000,Zoe's capital account would:
A) increase by $18,000
B) increase by $8,000
C) decrease by $10,000
D) decrease by $3,000
Correct Answer:
Verified
Correct Answer:
Verified
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