Anna and Ben formed a partnership with investments of P1,000,000 and P500,000, respectively. Net income is P210,000. The partners agreed on the following: . 10% interest on original investments . Anna's salary allowance of 120,000 and Ben's salary allowance of P144,000 . Balance 1:2 between Anna and Ben, respectively How much is Anna's share in the net income?

Anna and Ben formed a partnership with investments of P1,000,000 and P500,000, respectively. Net income is P210,000. The partners agreed on the following: . 10% interest on original investments . Anna's salary allowance of 120,000 and Ben's salary allowance of P144,000 . Balance 1:2 between Anna and Ben, respectively How much is Anna's share in the net income?

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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