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- Elisa Diaz and Ma. Concepcion Manalo formed a partnership, investing P330,000 and P110,000, respectively. Determine the partners' participation in the 2018 profit of P420,000 under each of the following independent assumptions: a. No areement concerning division of profit. B. Divided in the ratio of original capital investment. C. Interest at th rate of 8% allowed on original investments and the remainder divided in the ratio of 2:3 D. Salary allowances of P50,000 and P70,000, respectively, and the balance to be divided equally. E.Allowance of interest at the rate of 8% on original investments, salary allowances of P50,000 and P70,000, respectively, and the remainder to be divided equally.On January 1, 2030, AAA, BBB, CCC and DDD formed ABCD Trading Co., a partnership with capital contributions as follows: AAA – P50,000; BBB – P25,000, CCC – P25,000 and DDD – P20,000. The partnership agreement stipulates that each partner shall receive a 5% interest on capital contributed and that AAA and BBB shall receive salaries of P5,000 and P3,000, respectively. The agreement further provides that CCC shall receive a minimum of P2,500 per annum and DDD, a minimum of P6,000 which is inclusive of amounts representing interest and their respective shares in partnership profits. The balance of the profits shall be distributed among AAA, BBB, CCC and DDD in the ratio of 3:3:2:2. 15. What amount must be earned by the partnership in 2030, before any charge for interest and partners’ salaries, in order that AAA may receive an aggregate of P12,500 including interest, salary and share of profits? A. P30,667 B. P32,333 C. P16,667 D. P30,000 16. RRR is trying to decide whether to accept a…AB Partnership's operation for the year 2022 resulted in a profit of P240,000. Their profit sharing agreement provided the following: a. Salaries of P5,000 and P15,000 is to be given to A and B respectively; fres A fr free b. 10% of profit after salaries and bonus is to be given to Partner B; c. The balance is to be divided using the 7:3 ratio, respectively. How much profit is to be allocated to B?
- Jpea, Jic, and Jfenix formed a partnership and named it ESBIEYEY. At the end of the year, the partnership earned a profit of P 1,000,000. The capital balances are P250,000, P280,000, and P270,000 for Jpea, Jic, and Jfenix, respectively. The partners agreed to distribute the profit as follows: Interest to ending capital of 10% will be given Jpea and Jic will be given a salary amounting to P 150,000 each Jfenix will be given a bonus of 10% of net income after interest, salary and bonus Remaining profit is to be distributed equally How much is the bonus given to Jfenix? A. P 67,000 B. P 62,000 C. P 56,364 D. P 60,909 How much is Jpea’s share in net income? A. P 365,879 B. P 360,879 C. P 362,879 D. P 364,879 How much is Jic’s share in net income? A. P 360,879 B. P 362,879 C. P 364,879 D. P 365,879Mighty Darrel and Super Zigg formed a partnership and agreed to have an equal interest in thepartnership’s assets. They agreed to make the following contributions : Darrel contributed 100,000and Zigg contributed 84,000 in identifiable assets. Under the bonus approach, what is the amount ofbonus from Darrel to Zigg capital? A. 46,000B. 16,000C. 8,000D. 0A, B and C are partners of Push-it Partnership. Their capital balances are A- P400, B - P280 and C - P120. The following are their agreement in their profit sharing: 25% bonus to A based on profit after deducting the said bonus. B and C will be given 10% interest each on their capital balances. The remaining profits will be shared in the ratio of 5:2:1 for A, B and C respectively. How much is the profit share of A if the profit is P90? How much will be the income (loss) if the share ofA is P255? How much will be the income (loss) if the share of B is P21? How much will be the income (loss) if the share of C is P3?
- M, N and O are partners in the MNO Co. Their capital contributed were: M P100,000; N P220,000 and O P100,000. Partner O is to receive a bonus of 10% of net income after bonus Interest of 10% shall be paid on that portion of capital beginning in excess of P200,000. Salaries of P20,000 and P24,000 shall be paid to partners M and O, respectively. Assuming the net income of the partnership is P88,000, the total profit share of O is: 40,095. I need solution please.X, Y, and Z formed a partnership on Jnauary 1, 2021, and contributed P150,000; P200,000; P300,000, respectively. Their articles of co-partnership provide that the operating income be shared among partners as follows: as salary, P24,000 for X: P18,000 for Y: and P12,000 for Z: interest of 12% on the average capital during 2021 of the three partners; and the remainder in the ratio of 4:2:4, respectively. The operating income for the year-end December 31, 2021 amounted to P200,000. X contributed additional capital of P30,000 on July 1, and made a drawing of P10,000 on October 1; Y contributed additional capital of P20,000 on August 1. and made a drawing of P10,000 on October 1: and Z made a drawing of P30,000 on November 1, 2021. How much is the shared profit of partner Y?X, Y, and Z formed a partnership on Jnauary 1, 2021, and contributed P150,000; P200,000; P300,000, respectively. Their articles of co-partnership provide that the operating income be shared among partners as follows: as salary, P24,000 for X; P18,000 for Y; and P12,000 for Z: interest of 12% on the average capital during 2021 of the three partners; and the remainder in the ratio of 4:2:4, respectively. The operating income for the year-end December 31, 2021 amounted to P200,000. X contributed additional capital of P30,000 on July 1, and made a drawing of P10,000 on October 1; Y contributed additional capital of P20,000 on August 1, and made a drawing of P10,000 on October 1; and Z made a drawing of P30,000 on November 1, 2021. How much is the average capital of partner X?*
- X, Y, and Z formed a partnership on Jnauary 1, 2021, and contributed P150,000; P200,000; P300,000, respectively. Their articles of co-partnership provide that the operating income be shared among partners as follows: as salary, P24,000 for X; P18,000 for Y; and P12,000 for Z: interest of 12% on the average capital during 2021 of the three partners; and the remainder in the ratio of 4:2:4, respectively. The operating income for the year-end December 31, 2021 amounted to P200,000. X contributed additional capital of P30,000 on July 1, and made a drawing of P10,000 on October 1: Y contributed additional capital of P20,000 on August 1, and made a drawing of P10,000 on October 1, and Z made a drawing of P30.000 on November 1. 2021. How much is the capital balance at the end of partner Z?AB Partnership’s operation for the year 2022 resulted in a profit of P180,000. Their profit sharing agreement provided the following:a. Salaries of P15,000 and P25,000 is to be given to A and B respectively;b. 15% of profit after salaries but before bonus is to be given to Partner B;c. The balance is to be divided using the 3:2 ratio, respectively.How much profit is to be allocated to B?The Partnership of Rose and Dailine is being dissolved, and the assets and equities at book value and fair value and profit and loss ratios at January 1, 2021 are as follows:Book Value Fair ValueCash P20,000 P20,000Accounts Receivables – net 100,000 100,000 Inventories 50,000 200,000Plant Assets – net 100,000 120,000P270,000 P440,000Accounts Payable P50,000 P50,000Rose, Capital 120,000Dailine, Capital 100,000P270,000 Rose and Dailine agreed to admit Janyla into the partnership for one-third interest. Janyla invests P95,000 cash and a building to be used in the business with a book value to Janyla for P100,000 and a fair value of P120,000.Compute the capital balance of Dailine after the admission assuming that the assets are revalued and goodwill is recognized.a. P175,000 c. P195,000b. 155,000 D. 205,000