14. Santos and Gloria share profits in the ratio of 3:2. However, Santos is to receive a bonus of 20% of the profits, in addition to his profit share. The partnership made a profit for the year of P24,000 before the bonus. Assuming Santos' bonus is computed on profit after deducting said bonus, how much profit share will Gloria receive? P15,200 b. P 8,000 a. c. P 9,600 P 9,000 d.
14. Santos and Gloria share profits in the ratio of 3:2. However, Santos is to receive a bonus of 20% of the profits, in addition to his profit share. The partnership made a profit for the year of P24,000 before the bonus. Assuming Santos' bonus is computed on profit after deducting said bonus, how much profit share will Gloria receive? P15,200 b. P 8,000 a. c. P 9,600 P 9,000 d.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:14. Santos and Gloria share profits in the ratio of 3:2. However, Santos is to receive a
bonus of 20% of the profits, in addition to his profit share. The partnership made a
profit for the year of P24,000 before the bonus. Assuming Santos' bonus is
computed on profit after deducting said bonus, how much profit share will Gloria
receive?
a. P15,200
b. P 8,000
P 9,600
d. P 9,000
С.
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