please answer all the questions immediately thankyou 43On January 1, 2020, A and B have capital balances of P 200,000 and P 300,000 respectively. OnJuly 1,2020, A invests an additional P 10,000 and B withdraws P 11,600. Profits and losses aredivided as follows:Each of the partners shall be given 3,000 monthly salary;- Interest of 12% on ending capital balances,Bonus to B of 10% of profit after salary but before interest and bonus if profit exceeds500,000 for the year.Any remainder is divided in the ratiorof their capital balances at the start of the year,Revenues for the year totaled P 1,000,000 and Expenses amounted 300,000How much is B's share in net income/ net losses?O 273,356.80O 263,356.80O 436.643.20O 473,356.8044On January 1, 2020, A and B have capital balances of P 200,000 and P 300,000 respectively. OnJuly 1,2020, A invests an additional P 10,000 and B withdraws P 11,600, Profits and losses aredivided as follows:- Each of the partners shall be given 3,000 monthly salary;Interest of 12% on ending capital balances;Bonus to B of 10% of profit after salary but before interest and bonus if profit exceeds500,000 for the year.Any remainder is divided in the ratio of their capital balances at the start of the year.Revenues for the year totaled P 1,000,000 and Expenses amounted to P 1,120,000.How much is B's share in the net income/net loss?O (151.084.80)O 436.643.20O (463,463.20).O (80,476.80)

On January 1, 2020, A and B have capital balances of P 200,000 and P 300,000 Fespectively. July 1,2020, A invests an additional P 10,000 and B withdraws P 11,600, Profits and losses are divided as follows: Each of the partners shall be given 3,000 monthly salary - Interest of 12% on ending capital balances; - Bonus to B of 10% of profit after salary but before interest and bonus if profit exceeds 500,000 for the year. - Any remainder is divided in the ratibrof their capital balances at the start of the year. Revenues for the year totaled P1.000,000 and Expenses amounted 300,000 How much is B's share in net income/ net losses?

On January 1, 2020, A and B have capital balances of P 200,000 and P 300,000 Fespectively. July 1,2020, A invests an additional P 10,000 and B withdraws P 11,600, Profits and losses are divided as follows: Each of the partners shall be given 3,000 monthly salary - Interest of 12% on ending capital balances; - Bonus to B of 10% of profit after salary but before interest and bonus if profit exceeds 500,000 for the year. - Any remainder is divided in the ratibrof their capital balances at the start of the year. Revenues for the year totaled P1.000,000 and Expenses amounted 300,000 How much is B's share in net income/ net losses?

SWFT Individual Income Taxes

43rd Edition

ISBN:9780357391365

Author:YOUNG

Publisher:YOUNG

Chapter20: Corporations And Parterships

Section: Chapter Questions

Problem 57P

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Arun and Margot want to admit Tammy as a third partner for their partnership. Their capital balances prior to Tammys admission are $50,000 each. Prepare a schedule showing how the bonus should be divided among the three, assuming the profit or loss agreement will be 1:3 once Tammy has been admitted and her contribution is: A. $20,000 B. $80,000 C. $50,000. In addition, show the resulting journal entries to each of the three partners capital accounts.
The partnership of Tatum and Brook shares profits and losses in a 60:40 ratio respectively after Tatum receives a 10,000 salary and Brook receives a 15,000 salary. Prepare a schedule showing how the profit and loss should be divided, assuming the profit or loss for the year is: A. $40,000 B. $25,000 C. ($5,000) In addition, show the resulting entries to each partners capital account. Tatums capital account balance is $50,000 and Brooks is $60,000.
January 1, 2020, A and B have capital balances of P 200,000 and P 300,000 respectively. On July 1,2020, A invests an additional P 10,000 and B withdraws P 11,600. Profits and losses are divided as follows: - Each of the partners shall be given 3,000 monthly salary; - Interest of 12% on ending capital balances; - Bonus to B of 10% of profit after salary but before interest and bonus if profit exceeds 500,000 for the year. - Any remainder is divided in the ratio of their capital balances at the start of the year. Revenues for the year totaled P 1,000,000 and Expenses amounted to P 1,120,000. How much is B's share in the net income/net loss? A. (151,084.80) B. 436,643.20 C. (463,463.20) D. (80,476.80)
On January 1, 2020, A and B have capital balances of P 200,000 and P 300,000 respectively. On July 1,2020, A invests an additional P 10,000 and B withdraws P 11,600. Profits and losses are divided as follows:- Each of the partners shall be given 3,000 monthly salary;- Interest of 12% on ending capital balances;- Bonus to B of 10% of profit after salary but before interest and bonus if profit exceeds 500,000 for the year.- Any remainder is divided in the ratio of their capital balances at the start of the year.Revenues for the year totaled P 1,000,000 and Expenses amounted to P 300,000.How much is A's share in the net income/net loss?
On January 1, 2020, A and B have capital balances of P 200,000 and P 300,000 respectively. On July 1,2020, A invests an additional P 10,000 and B withdraws P 11,600. Profits and losses are divided as follows: - Each of the partners shall be given 3,000 monthly salary; - Interest of 12% on ending capital balances; - Bonus to B of 10% of profit after salary but before interest and bonus if profit exceeds 500,000 for the year. - Any remainder is divided in the ratio of their capital balances at the start of the year. Revenues for the year totaled P 1,000,000 and Expenses amounted 300,000 For the year 2021, the income summary account has a credit balance of P 500,000 and there are no additional investments or withdrawals during the year. How much is B's share in net income/ net losses for the year 2021? A. 303,885.43 B. 196,114.57 C. 108,111.75 D. 180,880.25
In January 1, 2020, A and B have capital balances of P 200,000 and P 300,000 respectively. On July 1,2020, A invests an additional P 10,000 and B withdraws P 11,600. Profits and losses are divided as follows: - Each of the partners shall be given 3,000 monthly salary; - Interest of 12% on ending capital balances; - Bonus to B of 10% of profit after salary but before interest and bonus if profit exceeds 500,000 for the year. - Any remainder is divided in the ratio of their capital balances at the start of the year. Revenues for the year totaled P 1,000,000 and Expenses amounted 300,000 How much is B's share in net income/ net losses? A. 273,356.80 b. 263,356.80 C. 436,643.20 D. 473,356.80
.On December 31, 2019, A and B have capital balances of P400,000 and P320,000, respectively. On April 1, 2020, A invested an additional P400,000 while she withdrew P100,000 at the beginning of the 4th quarter. B also made an additional investment of P300,000 and withdrew P20,000 on May 1. A is the managing partner and will receive a bonus equal to 10% of reported net income. Both partners shall receive 10% interest on their beginning capital, after which, any remainder shall be divided in the ratio of capital at the end of the period. The net income of the partnership for 2020 after tax is P600,000. How much is the share of A in the 2020 net income of the partnership?