15. On January 2, 2020, BB and PP formed a partnership. BB contributed capital of P175,000 and PP, P25,000. They agreed to share profits and losses 80 % and 20%, respectively. PP is the general manager and works in the partnership fulltime and is given a salary of P5,000 a month; an interest of 5% of the beginning capital (of both partner) and a bonus of 15% of net income before the salary, interest and the bonus. The profit and loss statement of the 'partnership for the year ended December 31, 2020 is as follows: P875,000 700,000 P175,000 143,000 P32,000 Net Sales Cost of goods sold Gross profits Expenses (including the salary, interest and the bonus) Net income The amount of bonus to PP in 2020 amounted to: 13,304 b. 16,456 a. C. 18,000 d. 20,700

LL, MM and PP are partners with capitals of P40,000; P25,000 and P15,000 respectively. Thepartnership agreement provides that each partner shall be allowed 5% interest on his capital, that LLshall be allowed an annual salary of P8,500, and that MM shall be entitled to a minimum of P14,000per annum including amounts allowed as interest on capital and as share of profit. Profit after interestand salary allowances is to be divided between LL, MM and PP as 5:3:2 respectively. What amountmust be earned by the partnership during 2021 before charges for interest or salary if LL is to receivean aggregate of P20,000 to include interest, salary, and share of profit? a. P38,000b. P50,000c. P38,550d. P35,880

Márasigan, Cabance and Cequina formed a partnership on Jan. 1, 2019. contributed P120,000. Each Salaries were to be allocated as follows: Marasigan, P30,000; Cabance, P30,000; Cequina, P45,000. Drawings were equal to salaries and to be taken out evenly throughout the year. With sufficient partnership profit, Marasigan and Cabance could split a bonus equal to 25% of partnership profit after salaries and bonus (in no event could the bonus go below zero). Remaining profits were to be split as follows: 30% for Marasigan; 30% for Cabance, and 40% for Cequina. For the year, partnership profit was P120,000. Compute the ending capital for each partner: Marasigan, P125,100; Cabance, P125,100, Cequina, P124,800 Marasigan, P126,000; Cabance, P126,000, Cequina, P124,500 Marasigan, P125,500;, Cabance, P125,500, Cequina, P124,000 Marasigan, P155,100; Cabance, P155,100; Cequina, P169,800 a. b. C. d.