pede po makahingi ng sagot dito? Problem #10Rules for the Distribution of Profits or LossesStephanie Calamba and Allan Brillantes decided to form a partnership. They agreed thatCalamba will invest P200,000 and Brillantes, P300,000. Calamba will devote full time tothe business, and Brillantes on part-time only. The following plans for the division ofprofits are being considered:a. Equal division.b. In the ratio of original investments.c. In the ratio of time devoted to the business.C.d. Interest of 10% on original investments and the remainder in the ratio of 3:2.e. Interest of 10% on original investments, salary allowances of P340,000 to Calambaand P170,000 to Brillantes, and the remainder equally.f. Plan (e), except that Calamba is also to be allowed a bonus equal to 20% of theamount by which profit exceeds the salary allowances.Required:Determine the partners' share in the profit or loss for each of the situations aboveassuming: (1) profit of P1,500,000 and (2) profit of P660,000.

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Rules for the Distribution of Profits or Losses Stephanie Calamba and Allan Brillantes decided to form a partnership. They agreed that Calamba will invest P200,000 and Brillantes, P300,000. Calamba will devote full time to the business, and Brillantes on part-time only. The following plans for the division of profits are being considered: a. Equal division. b. In the ratio of original investments. c. In the ratio of time devoted to the business. d. Interest of 10% on original investments and the remainder in the ratio of 3:2. e. Interest of 10% on original investments, salary allowances of P340,000 to Calamba and P170,000 to Brillantes, and the remainder equally. f. Plan (e), except that Calamba is also to be allowed a bonus equal to 20% of the amount by which profit exceeds the salary allowances. Required: Determine the partners' share in the profit or loss for each of the situations above assuming: (1) profit of P1,500,000 and (2) profit of P660,000.

Rules for the Distribution of Profits or Losses Stephanie Calamba and Allan Brillantes decided to form a partnership. They agreed that Calamba will invest P200,000 and Brillantes, P300,000. Calamba will devote full time to the business, and Brillantes on part-time only. The following plans for the division of profits are being considered: a. Equal division. b. In the ratio of original investments. c. In the ratio of time devoted to the business. d. Interest of 10% on original investments and the remainder in the ratio of 3:2. e. Interest of 10% on original investments, salary allowances of P340,000 to Calamba and P170,000 to Brillantes, and the remainder equally. f. Plan (e), except that Calamba is also to be allowed a bonus equal to 20% of the amount by which profit exceeds the salary allowances. Required: Determine the partners' share in the profit or loss for each of the situations above assuming: (1) profit of P1,500,000 and (2) profit of P660,000.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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pede po makahingi ng sagot dito?

Problem #10
Rules for the Distribution of Profits or Losses
Stephanie Calamba and Allan Brillantes decided to form a partnership. They agreed that
Calamba will invest P200,000 and Brillantes, P300,000. Calamba will devote full time to
the business, and Brillantes on part-time only. The following plans for the division of
profits are being considered:
a. Equal division.
b. In the ratio of original investments.
c. In the ratio of time devoted to the business.
C.
d. Interest of 10% on original investments and the remainder in the ratio of 3:2.
e. Interest of 10% on original investments, salary allowances of P340,000 to Calamba
and P170,000 to Brillantes, and the remainder equally.
f. Plan (e), except that Calamba is also to be allowed a bonus equal to 20% of the
amount by which profit exceeds the salary allowances.
Required:
Determine the partners' share in the profit or loss for each of the situations above
assuming: (1) profit of P1,500,000 and (2) profit of P660,000.

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