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What was the total partnership income

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Question - Floyd and Greg are partners who share profits and losses after salary allowance and interest in the ratio of 3:2, respectively. Floyd's monthly salary is P2,000 while Greg's is P15,000 per annum. The partners are also paid interest on their average capital balances. In 2019, Floyd received P18,000 in interest and Greg P12,000. If Greg's share of partnership income was P30,000 in 2019, what was the total partnership income?

Reference no: EM133030155

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