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

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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