If profit was 800,000 during 2018, how much should each partner receive?
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Ables and Galang divide
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- Partners Coleen and Norlyn received a salary of 150000 and 300000 and will share profit and loss in a 2:1 ratio respectively. If the partnership suffered a 150,000 loss in 2020, determine how the loss will be distributed to Coleen and Norlyn.Coleen's share on profit or loss?Norlyn's share on profit or loss?How much is the total amount to be distributed using the 2:1 ration?What is the correct answer to the question?Partners Alusterio and Advicula receive a salary of P150,000 and P300,000, respectively and share profit and losses in a 2:1 ratio, respectively. If the partnership suffered a P150,000 loss in 2018, what will be the share of each partner?
- Juan, Pedro, and Pablo agreed on profit-sharing of 2:5:3. By the end of 2022, their respective capital balances after income distribution and profit sharing are as follows: Juan – P 90,000; Pedro – P 85,000; Pablo – P 120,000. The partners agreed to maintain their capital balance, but adjust their equity based on their profit-sharing ratio. How much cash will be distributed to/(Invested by) Pedro?Profit and Loss Distribution Problem for AccountingAbles and Galang divide partnership profits and losses solely on the basis of their average capital balances. Ables had P275,000 invested during all of 2021. Galang invested P200,000 from January 1 to August 31, and he invested another P75,000 on September 1. If profit was P800,00 during 2021, how much should each partner receive?During 2020, ASHE and JINX maintained average capital balances of in their partnership of P200,000 and P150,000, respectively. Both partners receive 10% interest on average capital balances, and residual profit or loss is to be divided equally. Partnership profit before interest was P10,000. By what amount should JINX's capital account change for the year?
- John and Paul are partners who share profits and losses in the ratio of 3:2 respectively. John’s salary is P180,000 and Paul’s is P140,000. The partners are paid interest on their average capital balances where John received interest of P 30,000 and Paul, P 15,000. The profit and loss allocation is determined after deduction for the salary and interest payments. If John received P280,000 from partnership income, what was the total partnership income? SHOW THE ANSWER IN A GOOD ACCOUNTING FIRM.John and Paul are partners who share profits and losses in the ratio of 3:2 respectively. John’s salary is P180,000 and Paul’s is P140,000. The partners are paid interest on their average capital balances where John received interest of P 30,000 and Paul, P 15,000. The profit and loss allocation is determined after deduction for the salary and interest payments. If John received P280,000 from partnership income, what was the total partnership income? Please provide a good accounting form in the solution. Thank youBernardo and Belo formed a partnership in the year 2009. The partnership agreement provides for annual salary allowances of P110,000 for Bernardo and P90,000 for Belo. The partners share profits equally and losses in a 60:40 ratio. The partnership had a profit of P180,000 for the year 2009 before any allowance to partners. What amount should be credited to Bernardo's capital account as a result of the distribution of the partnership profit?
- Bernardo and Belo formed a partnership in the year 2009. The partnership agreement provides for annual salary allowances of P110,000 for Bernardo and P90,000 for Belo. The partners share profits equally and losses in a 60:40 ratio. The partnership had a profit of P180,000 for the year 2009 before any allowance to partners. What amount should be credited to Belo's capital account as a result of the distribution of the partnership profit?Fill in the blanks: Problem 4: Sampras and Nadal divide partnership profits and losses on the basis of average capital balances. 1. Sampras had invested P300,000 on January 02, 2019 and P120,000 on April 30, 2019 2. Nadal invested P400,000 on January 02, but withdrew P40,000 on July 01, 2019. Determine the following: 1. The average capital of Sampras is and the average capital of Nadal is 2. Distribute the profit of P150,000 for the first year of 2019 based on the average capital: a. Sampras share on profit is b. Nadal share on profit isMallari and Chua are partners who share profits and losses in a ratio of 3:2, respectively. They have the following capital balances on September 30, 2018. Mallari, Capital P250,000 Cr. Chua, Capital P500,000 Cr. The partners agreed to admit Palatino to the partnership. Calculate the capital balances of each partner after the admission of Palatino, assuming that bonuses are recorded when appropriate for each of the following assumptions: 1. Palatino paid Mallari P250,000 for 50% of his interest 2. Palatino invested P250,000 for one-fourth interest in the partnership 3. Palatino invested P250,000 for a 30% interest in the partnership