FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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I need correct answer and correct computation. Thank you! 

TNT a O ON 68% 11:15 Р600,000 Espiritu and Cheng have the following profit and loss agreement: salaries of P30,000 and P45,000 for Espiritu and Cheng, respectively; a bonus to Espiritu of 10% of profit after salaries and bonus; interest of 10% of average capital balances of P20,000 and P35,000 for Espiritu and Cheng, respectively; and any balance equally. If the profit is P102,500, how much should be allocated to Espiritu? * Р58,250 P47,796 P44,250 O P44,125 AB and CD are partners with capital balances of P60,000 and P20,000, ! respectively. Profits and losses are divided in the ratio of 60:4O. AB and
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Transcribed Image Text:TNT a O ON 68% 11:15 Р600,000 Espiritu and Cheng have the following profit and loss agreement: salaries of P30,000 and P45,000 for Espiritu and Cheng, respectively; a bonus to Espiritu of 10% of profit after salaries and bonus; interest of 10% of average capital balances of P20,000 and P35,000 for Espiritu and Cheng, respectively; and any balance equally. If the profit is P102,500, how much should be allocated to Espiritu? * Р58,250 P47,796 P44,250 O P44,125 AB and CD are partners with capital balances of P60,000 and P20,000, ! respectively. Profits and losses are divided in the ratio of 60:4O. AB and
TNT 6 O ON 68% DI11:15 i docs.google.com/forms AB and CD are partners with capital balances of P60,000 and P20,000, respectively. Profits and losses are divided in the ratio of 60:4O. AB and CD decided to form a new partnership with EF, who invested land valued at P15,000 for a 20% capital interest in the new partnership. EF's cost of land was P12,000. What is the capital balance of EF after admission? * P12,000 P15,000 P16,000 O P19,000 Fred and Raul are partners who share profits and losses in the ratio of 7:3, respectively. Their respective capital C. II
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Transcribed Image Text:TNT 6 O ON 68% DI11:15 i docs.google.com/forms AB and CD are partners with capital balances of P60,000 and P20,000, respectively. Profits and losses are divided in the ratio of 60:4O. AB and CD decided to form a new partnership with EF, who invested land valued at P15,000 for a 20% capital interest in the new partnership. EF's cost of land was P12,000. What is the capital balance of EF after admission? * P12,000 P15,000 P16,000 O P19,000 Fred and Raul are partners who share profits and losses in the ratio of 7:3, respectively. Their respective capital C. II
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