Bert, Ben, and Bello are partners in a sports equipment store with capital investments of P150,000, P200,000, and P300,000, respectively. The partnership agreement provides for the following 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?
Bert, Ben, and Bello are partners in a sports equipment store with capital investments of P150,000, P200,000, and P300,000, respectively. The partnership agreement provides for the following 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?
Chapter21: Partnerships
Section: Chapter Questions
Problem 2BCRQ
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Bert, Ben, and Bello are partners in a sports equipment store with capital investments of P150,000, P200,000, and P300,000, respectively. The
Direction: For Ben to be credited for a profit share of P200,000, how much should the company earn?
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