The partners of GWEN and JINX share profits of 60% and 40%respectively. However, GWEN is to receive a yearly bonus of 20% of the nonprofits after deducting said bonus, in addition to his profit share. The partnership made a net income for the year of P24,000 before the bonus. How much profit share will GWEN receive?
The partners of GWEN and JINX share profits of 60% and 40%respectively. However, GWEN is to receive a yearly bonus of 20% of the nonprofits after deducting said bonus, in addition to his profit share. The partnership made a net income for the year of P24,000 before the bonus. How much profit share will GWEN receive?
Chapter21: Partnerships
Section: Chapter Questions
Problem 2BCRQ
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The partners of GWEN and JINX share profits of 60% and 40%respectively. However, GWEN is to receive a yearly bonus of 20% of the nonprofits after deducting said bonus, in addition to his profit share. The
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