Pan and Sit share profits in the ration of 3:2. However, Pan is to receive a bonus of 20% of the profits, in addition to her profit share. The partnership made a profit for the year of P24,000 before the bonus. Assuming Pan's bonus is computed in profit after deducting said bonus, how much profit share will Sit receive?
Pan and Sit share profits in the ration of 3:2. However, Pan is to receive a bonus of 20% of the profits, in addition to her profit share. The partnership made a profit for the year of P24,000 before the bonus. Assuming Pan's bonus is computed in profit after deducting said bonus, how much profit share will Sit receive?
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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Pan and Sit share profits in the ration of 3:2. However, Pan is to receive a bonus of 20% of the profits, in addition to her profit share. The
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