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What is Zamora's share of the profit for the year? コフロ

What is Zamora's share of the profit for the year? コフロ

FINANCIAL ACCOUNTING
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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18. Tandico and Zamora are partners. Their capital accounts during 2020 were as follows: Zamora, Capital Tandico, Capital (8/28) P 9,300 (1/1) (4/3) (10/31) P 62,000 12,400 (3/5) P 13,950 | (1/1) (7/6) P 93,000 10,850 27,900 (10/7) 18,600 Net income of the partnership is P61,225 for the year 2020. The partnership agreement provides for the division of income as follows: 1. Each partner is to be credited 10% interest on his simple average capital. 2. And any remaining income or loss is to be divided equally. What is Zamora's share of the profit for the year? a. P31,775 b. P21,700 C. P25,575 d. P29,450
Transcribed Image Text:18. Tandico and Zamora are partners. Their capital accounts during 2020 were as follows: Zamora, Capital Tandico, Capital (8/28) P 9,300 (1/1) (4/3) (10/31) P 62,000 12,400 (3/5) P 13,950 | (1/1) (7/6) P 93,000 10,850 27,900 (10/7) 18,600 Net income of the partnership is P61,225 for the year 2020. The partnership agreement provides for the division of income as follows: 1. Each partner is to be credited 10% interest on his simple average capital. 2. And any remaining income or loss is to be divided equally. What is Zamora's share of the profit for the year? a. P31,775 b. P21,700 C. P25,575 d. P29,450
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