12. Bert, Ben and Bello are partners in a sports equipment store with capital investments of P150,000, P200,000 and P300,000, respectively. Partnership agreement provides for the following monthly salary of P10,000 to Ben who is the managing partner, 12% interest on capital contributions, remaining profit to be allocated equally. Direction: For Ben to be credited for a profit share of P200,000, how much should the company earn?
12. Bert, Ben and Bello are partners in a sports equipment store with capital investments of P150,000, P200,000 and P300,000, respectively. Partnership agreement provides for the following monthly salary of P10,000 to Ben who is the managing partner, 12% interest on capital contributions, remaining profit to be allocated equally. Direction: For Ben to be credited for a profit share of P200,000, how much should the company earn?
Chapter15: Partnership Accounting
Section: Chapter Questions
Problem 13MC: Thandie and Marco are partners with capital balances of $60,000. They share profits and losses at...
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12. Bert, Ben and Bello are partners in a sports equipment store with capital investments of P150,000, P200,000 and P300,000, respectively. Partnership agreement provides for the following monthly salary of P10,000 to Ben who is the managing partner, 12% interest on capital contributions, remaining profit to be allocated equally.
Direction: For Ben to be credited for a profit share of P200,000, how much should the company earn?
Transcribed Image Text:12. Bert, Ben and Bello are partners in a sports equipment store with capital investments of
P150,000, P200,000 and P300,000, respectively. Partnership agreement provides for the
following: monthly salary of P10,000 to Ben who is the managing partner, 12% interest
88
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