The partners of Triple A Partnership are Adah, Ana and Ara. During the current year, their average capital balances are as follows: Adah – P 180,000; Ana – P160,000; Ara – P 150,000. The articles of partnership provided the following terms: 1. Annual interest of 8% on their average capital balances. 2. Salary allowances as follows: Adah – P 50,000 and Ana – P 80,000. 3. Ana shall receive bonus of 15% of income in excess of P40,000 after partner’s interest and salary allowances. 4. Residual profits shall be divided in the ratio of 2:2:6 to Adah, Ana and Ara. What amount will Ana receive if the net income earned is P 470,000?
1.The partners of Triple A Partnership are Adah, Ana and Ara. During the current year, their average capital balances are as follows: Adah – P 180,000; Ana – P160,000; Ara – P 150,000. The articles of partnership provided the following terms: 1. Annual interest of 8% on their average capital balances. 2. Salary allowances as follows: Adah – P 50,000 and Ana – P 80,000. 3. Ana shall receive bonus of 15% of income in excess of P40,000 after partner’s interest and salary allowances. 4. Residual profits shall be divided in the ratio of 2:2:6 to Adah, Ana and Ara. What amount will Ana receive if the net income earned is P 470,000? *
2.Moira admits Joni as a partner in the business.
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