The partners, C and D, share profits 3:2. However, C is to receive a yearly bonus of 20% of the profits, in addition to his profit share. The partnership made a net income for the year of P960,000 before the bonus. Assuming C’s bonus is computed on profit after deducting said bonus, how much profit share will D receive? Choices:
The partners, C and D, share profits 3:2. However, C is to receive a yearly bonus of 20% of the profits, in addition to his profit share. The partnership made a net income for the year of P960,000 before the bonus. Assuming C’s bonus is computed on profit after deducting said bonus, how much profit share will D receive? Choices:
The partners, C and D, share profits 3:2. However, C is to receive a yearly bonus of 20% of the profits, in addition to his profit share. The partnership made a net income for the year of P960,000 before the bonus. Assuming C’s bonus is computed on profit after deducting said bonus, how much profit share will D receive? Choices:
The partners, C and D, share profits 3:2. However, C is to receive a yearly bonus of 20% of the profits, in addition to his profit share. The partnership made a net income for the year of P960,000 before the bonus.
Assuming C’s bonus is computed on profit after deducting said bonus, how much profit share will D receive?
Choices:
P160,000
P307,200
P640,000
P320,000
Definition Definition Arrangement between two or more people whereby they agree to manage business operations and share its profits and losses in an agreed ratio. The agreement drafted and signed by the partners of the firm is termed as a partnership deed and contains various important clauses agreed between the partners such as profit/loss sharing, interest on capital, remuneration allocation of each partner, and drawings of a partner.
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