Instructions: 1. Do not use comma and peso sign (i.e. if your answer is P200,500, encode it as 200500) 2. If your answer is loss use the open and close parenthesis to denote negative, i.e. if your answer is -50,000, encode it as (50000) Problem: Partners Coleen and Norlyn received a salary of P150,000 and P300,000 and will share profit and loss in a 2:1 ratio, respectively. If the partnership suffered a P150,000 loss in 2020, determine how the loss will be distributed to Coleen and Norlyn. 1. Coleen's share on profit or loss 2. Norlyn's share on profit or loss 3. How much is the total amount to be distributed using the 2:1 ratio?
Instructions: 1. Do not use comma and peso sign (i.e. if your answer is P200,500, encode it as 200500) 2. If your answer is loss use the open and close parenthesis to denote negative, i.e. if your answer is -50,000, encode it as (50000) Problem: Partners Coleen and Norlyn received a salary of P150,000 and P300,000 and will share profit and loss in a 2:1 ratio, respectively. If the partnership suffered a P150,000 loss in 2020, determine how the loss will be distributed to Coleen and Norlyn. 1. Coleen's share on profit or loss 2. Norlyn's share on profit or loss 3. How much is the total amount to be distributed using the 2:1 ratio?
Chapter10: Partnerships: Formation, Operation, And Basis
Section: Chapter Questions
Problem 52P
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Question
![Instructions:
1. Do not use comma and peso sign (i.e. if your answer is P200,500, encode it as
200500)
2. If your answer is loss use the open and close parenthesis to denote negative,
i.e. if your answer is -50,000, encode it as (50000)
Problem: Partners Coleen and Norlyn received a salary of P150,000 and
P300,000 and will share profit and loss in a 2:1 ratio, respectively. If the
partnership suffered a P1500,000 loss in 2020, determine how the loss will
be distributed to Coleen and Norlyn.
1. Coleen's share on profit or loss
2. Norlyn's share on profit or loss
3. How much is the total amount to be distributed using the 2: 1 ratio?](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F12b8748c-adc7-4bae-a050-8a82b9f83ede%2F1e39cab7-aa24-467c-9e65-1057a814943e%2Fntjmo7m_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Instructions:
1. Do not use comma and peso sign (i.e. if your answer is P200,500, encode it as
200500)
2. If your answer is loss use the open and close parenthesis to denote negative,
i.e. if your answer is -50,000, encode it as (50000)
Problem: Partners Coleen and Norlyn received a salary of P150,000 and
P300,000 and will share profit and loss in a 2:1 ratio, respectively. If the
partnership suffered a P1500,000 loss in 2020, determine how the loss will
be distributed to Coleen and Norlyn.
1. Coleen's share on profit or loss
2. Norlyn's share on profit or loss
3. How much is the total amount to be distributed using the 2: 1 ratio?
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