Daisy and Rose Partnership reports profit of $75,000 for the year ended December 31, 2024. Daisy and
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Daisy and Rose Partnership reports profit of $75,000 for the year ended December 31, 2024. Daisy and Rose agree to a profit and loss ratio of 60% for Daisy and 40% for Rose. Determine the division of profit to each partner, and prepare the entry to distribute the profit.
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Daisy Rose 75000 40 30000 ...View the full answer
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Related Book For 
Accounting Principles Volume 2
ISBN: 9781119786634
9th Canadian Edition
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Warren, Lori Novak
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