nd Aguhob are partners in a CPA Review School. They share profü atio of 2:1. On July 1, 2016 they admitted Figueroa's son Doblas as a Figueroa guaranteed that Doblas' profit share would not be less than P25- he six months to Dec. 31, 2016. The profit sharing arrangements after admission is as follows: Figueroa 50%, Aguhob 30% and Doblas 20%. The he year ended Dec.31, 2016 was P240,000 accruing evenly over the year hould Figueroa's total profit share be for the year ended Dec. 31, 2016? . P140,000
nd Aguhob are partners in a CPA Review School. They share profü atio of 2:1. On July 1, 2016 they admitted Figueroa's son Doblas as a Figueroa guaranteed that Doblas' profit share would not be less than P25- he six months to Dec. 31, 2016. The profit sharing arrangements after admission is as follows: Figueroa 50%, Aguhob 30% and Doblas 20%. The he year ended Dec.31, 2016 was P240,000 accruing evenly over the year hould Figueroa's total profit share be for the year ended Dec. 31, 2016? . P140,000
Chapter10: Partnerships: Formation, Operation, And Basis
Section: Chapter Questions
Problem 39P
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Transcribed Image Text:Figueroa and Aguhob are partners in a CPA Review School. They share profits in the
ratio of 2:1. On July 1, 2016 they admitted Figueroa's son Doblas as a partner.
Figueroa guaranteed that Doblas' profit share would not be less than P25,000 for
the six months to Dec. 31, 2016. The profit sharing arrangements after Doblas
admission is as follows: Figueroa 50%, Aguhob 30% and Doblas 20%. The profit for
the year ended Dec.31, 2016 was P240,000 accruing evenly over the year. What
should Figueroa's total profit share be for the year ended Dec. 31, 2016?
a. P140,000
b. P139,000
c. P114,000
d. P139,375
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