9. Mojeca and Santillan have formed a partnership and invested P140,000 andP160,000, respectively. They have agreed to share profits as follows:1) The first P30,000 is to be allocated according to their original capitalcontributions to the partnership.2) Mojeca is to receive a salary of P40,000 and Santillan is to receive asalary of P45,000.3) The remainder is to be allocated 5:3, respectively.If the business earns a net income of P118,000, Mojeca's share is:a. P62,125b. P61,000C. P55,875d. P54,000

The Partnership is Two or more persons running a business and they agree how the profit will be…

Answered: If the business earns a net income of…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Nataro, Incorporated, has sales of $674,000, costs of $336,000, depreciation expense of $80,000, interest expense of $50,000, and a tax rate of 22 percent. What is the net income for this firm? (Do not round intermediate calculations.)
A firm has net income of $21,350, depreciation of $2,780, interest of $640, and taxes of $10,990. The EBITDA multiple is 10.2. What is the value of the firm?
KBJ has total assets of S613,000. There are 21,000 shares of stock outstanding with a market value of S13 a share. The firm has a profit margin of 6.2 percent and a total asset turnover of 1.08. What is the price-earnings ratio?
Please help me
Zero Corp's total common equity at the end of last year was $350,000 and its net income was $70,000. What was its ROE? a. 19.40% b.24.20% O c. 17.00% d. 17.40% e. 20.00%
Griffins Goat Farm, Inc., has sales of $670,000, costs of $332,000, depreciation expense of $76,000, interest expense of $48,000, a tax rate of 23 percent, and paid out $45,000 in cash dividends. The firm has 27,800 shares of common stock outstanding. a. What are the earnings per share figure? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) b. What are the dividends per share figure? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) a. Earnings per share b. Dividends per share
In 2018, Bax had revenues of 008.38M, cost of revenue of $173 50M, R&D expenses of $163 75M, and other expenses of $405 65M What is the net profe margin for the company? Ⓒa. (22.13%) Ob (12 13%) OC 44.35% Od 0122%3
Helmuth Inc's latest net income was $1,415,000, and it had 250,000 shares outstanding. The company wants to pay out 45% of its income. What dividend per share should it declare? Do not round your intermediate calculations. a. $3.11 Ob. $1.91 c. $5.66 Od. $8.21 O e. $2.55
Pronghorn Co. invested $1,070,000 in Stellar Co. for 25% of its outstanding stock. Stellar Co. pays out 30% of net income in dividene each year. Use the information in the following T-account for the investment in Stellar to answer the following questions. Investment in Stellar Co. 1,070,000 99,000 (a) How much was Pronghorn Co.'s share of Stellar Co's net income for the year? Net income 29,700 Total net income (b) What was Stellar Co's total net income for the year? 428000 Total Dividends. $ 396000 (c) What was Stellar Co's total dividends for the year? 128400
Malit Corporation has a total shareholders' equity of P1,000,000, including retained earnings of P190,000. The cash balance is P350,000. The maximum cash dividend the corporation can declare and pay is

Recommended textbooks for you

FINANCIAL ACCOUNTING

Accounting

ISBN:

9781259964947

Author:

Libby

Publisher:

MCG

Accounting

ISBN:

9781337272094

Author:

WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.

Publisher:

Cengage Learning,

Accounting Information Systems

Accounting

ISBN:

9781337619202

Author:

Hall, James A.

Publisher:

Cengage Learning,

FINANCIAL ACCOUNTING

Accounting

ISBN:

9781259964947

Author:

Libby

Publisher:

MCG

Accounting

ISBN:

9781337272094

Author:

WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.

Publisher:

Cengage Learning,

Accounting Information Systems

Accounting

ISBN:

9781337619202

Author:

Hall, James A.

Publisher:

Cengage Learning,

Horngren's Cost Accounting: A Managerial Emphasis…

Accounting

ISBN:

9780134475585

Author:

Srikant M. Datar, Madhav V. Rajan

Publisher:

PEARSON

Intermediate Accounting

Accounting

ISBN:

9781259722660

Author:

J. David Spiceland, Mark W. Nelson, Wayne M Thomas

Publisher:

McGraw-Hill Education

Financial and Managerial Accounting

Accounting

ISBN:

9781259726705

Author:

John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles

Publisher:

McGraw-Hill Education

SEE MORE TEXTBOOKS

If the business earns a net income of P118,000, Mojeca's share is: P62.125