Katrina and Donald operate a gift business as partners. The partnership agreement provides that the profits or losses of the partnership should be divided equally after Donald, the active partner, receives a salary of $60,000. For the year ended 30 June, the partnership made a loss of $80,000 after the payment of Donald's salary. What amount does Donald return as his income or loss from the partnership?

Answer rating: 100% (QA)

To calculate Donalds income or loss from the partnership we fir... View the full answer