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PROBLEM 6 – 3: RECONSTRUCTION OF INFORMATION A and B's partnership agreement stipulates the following: Annual salary of P20,000 to A 10% bonus to A, based on profit after salaries and bonus The balances are shared on 60:40 ratio. Requirement: If B's share in the partnership profit for the year is P32,000, how much is the partnership profit before salary and bonus? A Total Amount being allocated 7 Allocation: 1. Salaries 20,000 20,000 2. Bonus 2 4 3. Allocation of remaining profit As allocated 32,000 32,000 5 3 6

PROBLEM 6 – 3: RECONSTRUCTION OF INFORMATION A and B's partnership agreement stipulates the following: Annual salary of P20,000 to A 10% bonus to A, based on profit after salaries and bonus The balances are shared on 60:40 ratio. Requirement: If B's share in the partnership profit for the year is P32,000, how much is the partnership profit before salary and bonus? A Total Amount being allocated 7 Allocation: 1. Salaries 20,000 20,000 2. Bonus 2 4 3. Allocation of remaining profit As allocated 32,000 32,000 5 3 6

SWFT Individual Income Taxes
SWFT Individual Income Taxes
43rd Edition
ISBN:9780357391365
Author:YOUNG
Publisher:YOUNG
Chapter11: Investor Losses
Section: Chapter Questions
Problem 35P
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PROBLEM 6 – 3: RECONSTRUCTION OF INFORMATION A and B's partnership agreement stipulates the following: Annual salary of P20,000 to A 10% bonus to A, based on profit after salaries and bonus The balances are shared on 60:40 ratio. Requirement: If B's share in the pai tnership profit for the year is P32,000, how much is the partnership profit before salary and bonus? A В Total Amount being allocated 7 Allocation: 1. Salaries 20,000 20,000 2. Bonus 4 3. Allocation of remaining profit As allocated 32,000 32,000 5 3 6
Transcribed Image Text:PROBLEM 6 – 3: RECONSTRUCTION OF INFORMATION A and B's partnership agreement stipulates the following: Annual salary of P20,000 to A 10% bonus to A, based on profit after salaries and bonus The balances are shared on 60:40 ratio. Requirement: If B's share in the pai tnership profit for the year is P32,000, how much is the partnership profit before salary and bonus? A В Total Amount being allocated 7 Allocation: 1. Salaries 20,000 20,000 2. Bonus 4 3. Allocation of remaining profit As allocated 32,000 32,000 5 3 6
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