ABC Partnership has total Capital investments of P300,000 invested equally. Annual salaries amounting to P20,000, P25,000 and P10,000 to Partners A, B and C. B, an industrial partner will be allowed Bonus of P35,000. Any remainder will be divided in the ratio 4:3:3. Partner A will have a capital balance of how much after the distribution of net income of P120,000?

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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ABC Partnership has total Capital investments of P300,000 invested equally. Annual salaries amounting to P20,000, P25,000 and P10,000 to Partners A, B and C. B, an industrial partner will be allowed Bonus of P35,000. Any remainder will be divided in the ratio 4:3:3. Partner A will have a capital balance of how much after the distribution of net income of P120,000?

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