4. A and B formed a partnership. The partnership agreement stipulates the following:• Monthly salaries of P6,000 for A and P2,000 for B.• 20% bonus to A, after deductions for salary, interest, and bonus.10% interest on the weighted average capital of B.Any remaining amount is shared equally.The partnership's records show the following:RevenuesExpenses (including salary, interest, and bonus)Profit150,000(120,000)30,000n this messageose of the indiwender and may notv reflect the viewsf Philippine Cultural CollegePage | 2The movements in B's capital account are as follows:В. Сарital60,000beg.Aug. 1 withdrawal 30,000| 20,000Mar. 31 additional investmentOct. 1 additional investmentDec. 31 additional investment40,00010,000100,00end.How much is the share of B in the partnership profit?a. 93,000b. 52,250с. 46,250d. 45,000

Partnership is a firm with two or more partners carrying the business together and sharing the…

4. A and B formed a partnership. The partnership agreement stipulates the following: Monthly salaries of P6,000 for A and P2,000 for B. • 20% bonus to A, after deductions for salary, interest, and bonus. • 10% interest on the weighted average capital of B. Any remaining amount is shared equally. The partnership's records show the following: Revenues Expenses (including salary, interest, and bonus) Profit 150,000 _(120,000) 30,000 this message l sender and may he vie College Page | 2 The movements in B's capital account are as follows: В. Сарital 60,000 beg. Aug. 1 withdrawal 30,000 | 20,000 Mar. 31 additional investment 40,000 Oct. 1 additional investment 10,000 Dec. 31 additional investment 100,00 end. How much is the share of B in the partnership profit? a. 93,000 b. 52,250 с. 46,250 d. 45,000

4. A and B formed a partnership. The partnership agreement stipulates the following: Monthly salaries of P6,000 for A and P2,000 for B. • 20% bonus to A, after deductions for salary, interest, and bonus. • 10% interest on the weighted average capital of B. Any remaining amount is shared equally. The partnership's records show the following: Revenues Expenses (including salary, interest, and bonus) Profit 150,000 _(120,000) 30,000 this message l sender and may he vie College Page | 2 The movements in B's capital account are as follows: В. Сарital 60,000 beg. Aug. 1 withdrawal 30,000 | 20,000 Mar. 31 additional investment 40,000 Oct. 1 additional investment 10,000 Dec. 31 additional investment 100,00 end. How much is the share of B in the partnership profit? a. 93,000 b. 52,250 с. 46,250 d. 45,000

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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