Banzon and Borja are partners in B&B Enterprises. Partnership profits and losses are allocated as follows: Salaries - P160,000 and P200,000 to Banzon and Borja, respectively • 10% interest on the beginning capital balances Any remaining profit is divided equally At the beginning of the year, their capital balances are: P360,000 for Banzon and P600,000 for Borja. What portion of the partnership income of P600,000 will be allocated to Banzon?

Banzon and Borja are partners in B&B Enterprises. Partnership profits and losses are allocated as follows: Salaries - P160,000 and P200,000 to Banzon and Borja, respectively • 10% interest on the beginning capital balances Any remaining profit is divided equally At the beginning of the year, their capital balances are: P360,000 for Banzon and P600,000 for Borja. What portion of the partnership income of P600,000 will be allocated to Banzon?

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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