4. A and B formed a partnership. The partnership agreement stipulates the following: • Annual salary allowances of P10,000 for A and P40,000 for В. • Bonus to A of 10% of the profit after partner's salaries but before bonus and interest. Interest of 12% on the beginning capital balance of B. • The partners share profits and losses on a 60:40 ratio. Juring the period the partnership earned profit of P200,000 before- eduction for salaries. B's beginning capital balance was P60,000. low much is the share of A in the profit? a. 101,680 b. 98,320 с. 110,820 d. 96,720

4. A and B formed a partnership. The partnership agreement stipulates the following: • Annual salary allowances of P10,000 for A and P40,000 for В. • Bonus to A of 10% of the profit after partner's salaries but before bonus and interest. Interest of 12% on the beginning capital balance of B. • The partners share profits and losses on a 60:40 ratio. Juring the period the partnership earned profit of P200,000 before- eduction for salaries. B's beginning capital balance was P60,000. low much is the share of A in the profit? a. 101,680 b. 98,320 с. 110,820 d. 96,720

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter15: Partnership Accounting

Section: Chapter Questions

Problem 3EA: The partnership of Tasha and Bill shares profits and losses in a 50:50 ratio, and the partners have...

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