Parducho had a P500,000 capital balance for eight months and a P650,000 balance for four months. Bongo had a P380,000 capital balance for five months and a P500,000 balance for seven months. How much of the year's P800,000 profit should Panelo receive if profits and losses are distributed based on the ratio of their average capital balances?
Parducho had a P500,000 capital balance for eight months and a P650,000 balance for four months. Bongo had a P380,000 capital balance for five months and a P500,000 balance for seven months. How much of the year's P800,000 profit should Panelo receive if profits and losses are distributed based on the ratio of their average capital balances?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Parducho had a P500,000 capital balance for eight months and a P650,000 balance for four months. Bongo had a P380,000 capital balance for five months and a P500,000 balance for seven months. How much of the year's P800,000 profit should Panelo receive if
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