4 We agreed that I should receive a P1 bonus in addition to my P1 salary. If our partnership business earns profit of P10, my share is P6, while your share is P4.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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TRUE OR FALSE

A We agreed that I should receive a P1 bonus in addition to my
P1 salary. If our partnership business earns profit of P10, my
share is P6, while your share is P4.
5. We agreed that I slould receive a P1 bonus in addition to my
P1 salary while you receive a P1 interest on your capital
contribution. If our partnership business earns profit of P10,
my share is P5.5 while your share is P4.5.
Transcribed Image Text:A We agreed that I should receive a P1 bonus in addition to my P1 salary. If our partnership business earns profit of P10, my share is P6, while your share is P4. 5. We agreed that I slould receive a P1 bonus in addition to my P1 salary while you receive a P1 interest on your capital contribution. If our partnership business earns profit of P10, my share is P5.5 while your share is P4.5.
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