Exercise 3-1 (Division of Profit using Ratios) Bong, Bueno, and Bunny formed a partnership and have capital balances of P350,000, P250,000 and P200,000, respectively. They devoted time to personally managed their partnership as follows: Bong Bueno Bunny three-fourths time one-half time one-fourth time Instructions: Determine the participation of the partners in the profit of P1,000,000 if profit is divided: 1. In the ratio of capital investments 2. In the ratio of time devoted in the business Follow the instructions strictly

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Chapter1: Financial Statements And Business Decisions
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Exercise 3-1 (Division of Profit using Ratios)
Bong, Bueno, and Bunny formed a partnership and have capital balances of P350,000,
P250,000 and P200,000, respectively. They devoted time to personally managed their
partnership as follows:
Bong
Bueno
Bunny
three-fourths time
one-half time
one-fourth time
Instructions: Determine the participation of the partners in the profit of P1,000,000 if profit is
divided:
1. In the ratio of capital investments
2. In the ratio of time devoted in the business
Follow the instructions strictly
Transcribed Image Text:Exercise 3-1 (Division of Profit using Ratios) Bong, Bueno, and Bunny formed a partnership and have capital balances of P350,000, P250,000 and P200,000, respectively. They devoted time to personally managed their partnership as follows: Bong Bueno Bunny three-fourths time one-half time one-fourth time Instructions: Determine the participation of the partners in the profit of P1,000,000 if profit is divided: 1. In the ratio of capital investments 2. In the ratio of time devoted in the business Follow the instructions strictly
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