Refozar, Martinez and Magsino förmed a parthership. The profit-sharing arrangements are as follows: "SISPO JPa Until June 30, 2016, the annual salaries are provided as follows: Martinez, P40,000 and Magsino, P20,000. The residual profit will be shared in the ratio of 6:2:2. From July 1, 2016, the salaries will be discontinued and the profit to be divided in the revised ratio of 5:3:2. Profit for the year ended Dec. 31, 2016 was P400,000 before charging partners' salaries, accruing evenly through´ the year, and after charging an expense of P40,000, which it was agreed related wholly to the first six months of the year. How should the profit for the year be divided among the partners? Magsino "P88,000 P84,000 Martinez Refozar P182,000 P200,000 P130,000 P116,000 a. b.
Refozar, Martinez and Magsino förmed a parthership. The profit-sharing arrangements are as follows: "SISPO JPa Until June 30, 2016, the annual salaries are provided as follows: Martinez, P40,000 and Magsino, P20,000. The residual profit will be shared in the ratio of 6:2:2. From July 1, 2016, the salaries will be discontinued and the profit to be divided in the revised ratio of 5:3:2. Profit for the year ended Dec. 31, 2016 was P400,000 before charging partners' salaries, accruing evenly through´ the year, and after charging an expense of P40,000, which it was agreed related wholly to the first six months of the year. How should the profit for the year be divided among the partners? Magsino "P88,000 P84,000 Martinez Refozar P182,000 P200,000 P130,000 P116,000 a. b.
Chapter10: Partnerships: Formation, Operation, And Basis
Section: Chapter Questions
Problem 39P
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