Ceradoy. Manongsong and Anuran are partners sharing residual profits in the ratio of 3:2:1. The partnership agreement provides for 8% interest on capital and a salary for Manongsong of P80,000 per annum. Profit for 2019 was P840.000 and the year end balances on capital accounts are as follows: Ceradoy. P200.000: Manongsong. P150,000: and anuran, P120.000. What was Anuran's share of residual profits for 2019?

FINANCIAL ACCOUNTING
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Author:Libby
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Chapter1: Financial Statements And Business Decisions
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Ceradoy. Manongsong and Anuran are partners sharing residual profits in the ratio of 3:2:1. The partnership agreement provides for 8% interest on capital and a salary for Manongsong of P80,000 per annum. Profit for 2019 was P840.000 and the year end balances on capital accounts are as follows: Ceradoy. P200.000: Manongsong. P150,000: and anuran, P120.000. What was Anuran's share of residual profits for 2019?

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