George and Russel are partners in a partnership which earned P630,000 net income during the year ended December 31, 2022. George is a capitalist-industrial partner who originally invested P300,000. Russel is an industrial partner who also manages the day-to-day operations of the partnership. All capitalist partners are given a 7% interest allowance based on their original capital contribution. All industrial partners are given a monthly salary allowance of P10,000. The managing partner may earn a bonus allowance equal to 5% of the net income after interests, salaries, and bonus. Any remainder is to be shared by the two partners equally. 20. How much is George's share in the net income of the partnership? A. 269,668 B. 279,397 C. 334,286 D. 335,725 21. How much is the bonus? A. 17,528 B. 17,571 C. 19,373

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