EXERCISE 6-13. Problem Solving 4. Alloy and Aeson are partners who share profits and losses in the ratio 60% and 40%, respectively. Alloy and Aeson are given salary allowances of P120,000 and P60,000, respectively. The partners are also paid interest on their ending capital balances. In 2019, amounts of interest received by Alloy and Aeson were P60,000 and P24,000, respectively. Subsequent allocations using profit and loss ratio were then made after salary allowances and interest payments had been provided for. You are required to determine the total partnership net income if Aeson's share in the residual income (balance after salary allowances and interest) was P120,000 in 2019.

Exercise 3-7. Distribution of Net Loss to partners Carmela and Ferdinand formed a partnership on January respectively. The partnership reported a net loss of P80,000. 1, 2023, with initial investments of P300,000 and P500,000, The partnership agreement provides that profit or loss shall be distributed accordingly: • Monthly salary of P10,000 and P5,000 respectively for Carmela and Ferdinand, . 10% interest on partners' original capital. . 20% bonus to Carmela based on net income before interest, and salary. •The remainder is shared in the ratio of 3:2 respectively. Required: Determine the share of Carmela and Ferdinand in the net loss.

Manji