What is the answer in nunbers 12, 13, and 14? 12. The partnership agreement of Zuniga, Armenta & Galang provided for the year-endallocation of profit in the foillowing order:First, Zuniga is to receive 10% of profit up to P200,000 and 20% over P200,000.Second, Armenta and Galang each are to receive 5% of the remaining profit oveP300,000.The balance of profit is to be allocated equally among the three partners.The partnership's 2019 profit was P500,000 before any allocations to partners:What amount should be allocated to Zuniga?P202,000P216,000P206,000P220,000а.с.b.d.15. Bacalso and Tenajeros have respective partnership capital balances of P48,000 andP24,000 on Jan. 1.Bacalso withdrew P6,000 on May 1 and P6,000 on July 1.Tenajeros invested an additional P12.000 on April 1 and withdrew P8,000 on Oct. 1.The average capital balances for Bacalso and Tenajeros for the year area. Bacalso, P48,000; Tenajeros, P24,000.b. Bacalso, P42,000; Tenajeros, P26,000.Bacalso, P41,000; Tenajeros, P31,000.d. Bacalso, P36,000; Tenajeros, P28,000.С.14. On Jan. 1, 2019, Anatalio, Yecyec, Guzon and Calimpusan formed Butuan TradingCo., a partnership, with contributions as follows: Anatalio, P50,000; Yecyec,P25,000; Guzon, P25,000 and Calimpusan, P20,000.provided that each partner shall receive a 5% interest on contributed capital, andthat Anatalio and Yecyec shall receive salaries of P5,000 and P3,000, respectively.The partnership contractThe contract also provided that Guzon shall receive a minimum of P2,500 perannum, and Calimpusan a minimum of P6,000 per annum, which is inclusive ofamounts representing interest and share of remaining profits. The balance of theprofits shall be distributed to Anatalio, Yecyec, Guzon and Calimpusan in a ratio3:3:2:2.What amount must be earned by the partnership, before any charge for interestand salaries, so that Anatalio may receive an aggregate of P12,500 includinginterest, salary and share of profits?а. Р32,333b. Р30,000с. РЗО,667d. P16,667

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12. The partnership agreement of Zuniga, Armenta & Galang provided for the y year-end allocation of profit in the following order: First, Zuniga is to receive 10% of profit up to P200,000 and 20% over P200,000. Second, Armenta and Galang each are to receive 5% of the remaining profit over P300,000. The balance of profit is to be allocated equally among the three partners. The partnership's 2019 profit was P500,000 before any allocations to partners: What amount should be allocated to Zuniga? а. P202,000 P206,000 С. b. P216,000 d. P220,000

12. The partnership agreement of Zuniga, Armenta & Galang provided for the y year-end allocation of profit in the following order: First, Zuniga is to receive 10% of profit up to P200,000 and 20% over P200,000. Second, Armenta and Galang each are to receive 5% of the remaining profit over P300,000. The balance of profit is to be allocated equally among the three partners. The partnership's 2019 profit was P500,000 before any allocations to partners: What amount should be allocated to Zuniga? а. P202,000 P206,000 С. b. P216,000 d. P220,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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