Item No. 25 is based on the following information: Ree, Ver, and Kwai are partners having capital balances of P 180,000, P 120,000, and P 200,000, respectively on January 1, 200B. Their profit and loss sharing agreement provides for the following: o Salary allowance of P 60,000 each; Bonus of 20% of the profit after salaries and bonus; and Remainder is to be divided 6:2:2. The bonus is to be split between Ver and Kwai. During 200B, the partnership earned profit of P 276,000. 25. Assuming all the partners withdrew their salary allowances during the year how much would be the capital balance of Ver on December 31, 200B? a. P 84,000. c. P 144,000. b. P 120,000. d. P 204,000.

A, B, and C agreed that A will receive 10% of profit and each partner receive 6% interest on average capital investment. Residual profit or loss is divided equally. The average capital balances of A, B, and C were P80,000, P50,000, and P30,000. What amount should C receive from the partnership income of P100,000?

A, B and C share profits and losses in the ratio of 3:2:1. C is to receive a salary of K30, 000 as managing partner, and interest at the rate of 15% p. a is to be charged on drawings. Further, Interest to be earned by partners on their capital contributed. The following are the results of the profits and losses appropriated for the current year. Net profit K200, 0000 Salary K30, 000 Interest on drawings A K10, 000 B K8, 000 C K7, 000 Interests on capital A K20, 000 B K15, 000 C K15, 000 You are required to calculated the partners share of taxable income for tax purposes.

The partnership agreement of ABC partnership includes the following profit and loss sharing provisions: Salaries to partners B and C amounting to P5,000 per month 5% bonus to partner B based on profits after salaries and bonus Remainder to be allocated 2:2:1 At the end of current period, the partnership generated a net income of P100,000. Based on the information provided, how should the profit be distributed?