Partners ABC, DEF, GHI and JKL initially invested P45,000; P60,000; P65,000 and P85,000 each to form a partnership on July 1, 2022. They divide profit and losses based on the following: a. PORSION Annual Salaries of P15,000, P20,000 and P20,000 to ABC, DEF and GHI; 10% interest on original capital to GHI; 25% bonus to JKL of net income; ABC, DEF, GHI and The balance is to be divided into a 4:3:2:1 ratio to JKL Each respectively. If ABC and GHI received a total of P57.00DIFICo to ABC, DEF, GHI and b. C. d. the net income for 2022, compute the share of JKL from the net income of the partnership
Partners ABC, DEF, GHI and JKL initially invested P45,000; P60,000; P65,000 and P85,000 each to form a partnership on July 1, 2022. They divide profit and losses based on the following: a. PORSION Annual Salaries of P15,000, P20,000 and P20,000 to ABC, DEF and GHI; 10% interest on original capital to GHI; 25% bonus to JKL of net income; ABC, DEF, GHI and The balance is to be divided into a 4:3:2:1 ratio to JKL Each respectively. If ABC and GHI received a total of P57.00DIFICo to ABC, DEF, GHI and b. C. d. the net income for 2022, compute the share of JKL from the net income of the partnership
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Partners ABC, DEF, GHI and
P65,000 and P85,000 each to
profit and losses based on the following:
PKL initially invested P45,000; P60,000;
form a partnership on July 1, 2022. They divide
b.
C.
d.
a. Annual Salaries of P15,000, P20,000 and P20,000 to ABC, DEF and
GHI;
10% interest on original capital to GHI;
25% bonus to JKL of net income;
The balance is to be divided into a 4:3:2:1 ratio to ABC, DEF, GHI and
JKL Each respectively.
PORSINYA
If ABC and GHI received a total of P57.00DIFICE
compute the share of JKL from the net income of the partnership
from the net income for 2022,
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