KT partnership provided the following information: • Net income Total Salaries of the partners Total Interests of the partners Bonus to partner Kylie P 300,000 50,000 30,000 20% 1. Assuming the Bonus is computed after salaries and interests, but before the bonus, the bonus is A. P60,000 B. P44,000 C. P50,000 D. P36,667 2. Assuming the Bonus is computed before salaries and interests, but after the bonus, the bonus is A. P60,000 B. P44,000 C. P50,000 D. P36,667 3. Assuming the Bonus is computed after salaries, interests, and the bonus, the bonus is A. P60,000 B. P44,000 C. P50,000 D. P36,667

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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KT partnership provided the following information:
• Net income
Total Salaries of the partners
Total Interests of the partners
Bonus to partner Kylie
P
300,000
50,000
30,000
20%
1. Assuming the Bonus is computed after salaries and interests, but before the bonus,
the bonus is
A. P60,000
B. P44,000
C. P50,000
D. P36,667
2. Assuming the Bonus is computed before salaries and interests, but after the bonus,
the bonus is
A. P60,000
B. P44,000
C. P50,000
D. P36,667
3. Assuming the Bonus is computed after salaries, interests, and the bonus, the bonus
is
A. P60,000
B. P44,000
C. P50,000
D. P36,667
Transcribed Image Text:KT partnership provided the following information: • Net income Total Salaries of the partners Total Interests of the partners Bonus to partner Kylie P 300,000 50,000 30,000 20% 1. Assuming the Bonus is computed after salaries and interests, but before the bonus, the bonus is A. P60,000 B. P44,000 C. P50,000 D. P36,667 2. Assuming the Bonus is computed before salaries and interests, but after the bonus, the bonus is A. P60,000 B. P44,000 C. P50,000 D. P36,667 3. Assuming the Bonus is computed after salaries, interests, and the bonus, the bonus is A. P60,000 B. P44,000 C. P50,000 D. P36,667
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