A, B and C are partners sharing profits and losses in the ratio of 3:2:1 after the bonus (20% of net income before salary and bonus) to A and the salary provision of P3,000 to A. They have beginning balances of P30,000 each at the beginning of the year. A contributed an additional P30,000 while B contributed an additional P20,000. The partnership had net income of P30,000 after salary and bonus. How much should be the bonus to A?
A, B and C are partners sharing profits and losses in the ratio of 3:2:1 after the bonus (20% of net income before salary and bonus) to A and the salary provision of P3,000 to A. They have beginning balances of P30,000 each at the beginning of the year. A contributed an additional P30,000 while B contributed an additional P20,000. The partnership had net income of P30,000 after salary and bonus. How much should be the bonus to A?
Chapter15: Partnership Accounting
Section: Chapter Questions
Problem 1PA: The partnership of Tatum and Brook shares profits and losses in a 60:40 ratio respectively after...
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A, B and C are partners sharing profits and losses in the ratio of 3:2:1 after the bonus (20% of net income before salary and bonus) to A and the salary provision of P3,000 to A. They have beginning balances of P30,000 each at the beginning of the year. A contributed an additional P30,000 while B contributed an additional P20,000. The partnership had net income of P30,000 after salary and bonus. How much should be the bonus to A?
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