Mutua and Koech are in partnership trading as Mukoe Enterprises. They share profits and losses in the ratio of 2:3 for Mutua and Koech respectively....

      

Mutua and Koech are in partnership trading as Mukoe Enterprises. They share profits and losses in the ratio of 2:3 for Mutua and Koech respectively. The partners presented the following income statement of the partnership for the year ended 31 December 2012:

mut11322019143.png
mut21322019144.png

Required:
i) The adjusted partnership profit or loss for the year ended 31 December 2012
ii) Distribution schedule of the profit or loss calculated in (b)(i) above

  

Answers


Wilfred
mut31322019145.png
mut41322019146.png
Wilfykil answered the question on February 13, 2019 at 09:48


Next: Mr Burny Odipo has provided the following information on his employment and other incomes for the year ended 31 December 2013: Required: i. Total taxable income...
Previous: Explain the tax position in relation to irregularly paid employees

View More CPA Taxation Questions and Answers | Return to Questions Index


Exams With Marking Schemes

Related Questions