4. Rubio and Bisana established a trading partnership. They share profits equally afterallowing salaries of P40,000 per year for Rubio and interest on partner's capital at5% per year. On Jan. 1, 2019, their capital balances are as follows: Rubio, P200,000and Bisana, P100,000.ratioOn July 1, 2019, Bisana invested an additional P100,000 and Rubio's salary wasThe partnership profit for the year ended Dec. 31, 2019 wasalaryear-00Bdiscontinued.ofP337,500. What was Rubio's total profit share for the year ended Dec. 31, 2019?P182,500а.b.P178,750P180,000С.d.P190,000

A partnership is an arrangement between two or more parties to come together and carry business…

4. Rubio and Bisana established a trading partnership. They share profits equally after allowing salaries of P40,000 per year for Rubio and interest on partner's capital at 5% per year. On Jan. 1, 2019, their capital balances are as follows: Rubio, P200,000 and Bisana, P100,000. On July 1, 2019, Bisana invested an additional P100,000 and Rubio's salary was discontinued. The partnership profit for the year ended Dec. 31, 2019 was P337,500. What was Rubio's total profit share for the year ended Dec. 31, 2019? a. P182,500 b. P178,750 C. P180,000 d. P190,000

4. Rubio and Bisana established a trading partnership. They share profits equally after allowing salaries of P40,000 per year for Rubio and interest on partner's capital at 5% per year. On Jan. 1, 2019, their capital balances are as follows: Rubio, P200,000 and Bisana, P100,000. On July 1, 2019, Bisana invested an additional P100,000 and Rubio's salary was discontinued. The partnership profit for the year ended Dec. 31, 2019 was P337,500. What was Rubio's total profit share for the year ended Dec. 31, 2019? a. P182,500 b. P178,750 C. P180,000 d. P190,000

Individual Income Taxes

43rd Edition

ISBN:9780357109731

Author:Hoffman

Publisher:Hoffman

Chapter4: Gross Income: Concepts And Inclusions

Section: Chapter Questions

Problem 43P

See similar textbooks