Problem #3 Rules for the Distribution of Profits or Losses Elisa Diaz and Ma. Concepcion Manalo formed a partnership, investing P330,000 and Yy P110,000, respectively. Determine the partners' participation in the 2016 profit of P420,000 under each of the following independent assumptions: a. No agreement concerning division of profit. b. Divided in the ratio of original capital investment. c. Interest at the rate of 8% 'allowed on original investments and the remainder divided in the ratio of 2:3. d. Salary allowances of P50,000 and P70,000, respectively, and the balance to be divided equally. e. Allowance of interest at the rate of 8% on original investments, salary allowances of P50,000 and P70,000, respectively, and the remainder to be divided equally.

Problem #3 Rules for the Distribution of Profits or Losses Elisa Diaz and Ma. Concepcion Manalo formed a partnership, investing P330,000 and Yy P110,000, respectively. Determine the partners' participation in the 2016 profit of P420,000 under each of the following independent assumptions: a. No agreement concerning division of profit. b. Divided in the ratio of original capital investment. c. Interest at the rate of 8% 'allowed on original investments and the remainder divided in the ratio of 2:3. d. Salary allowances of P50,000 and P70,000, respectively, and the balance to be divided equally. e. Allowance of interest at the rate of 8% on original investments, salary allowances of P50,000 and P70,000, respectively, and the remainder to be divided equally.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Problem #3 SCORE: PROFESSOR Rules for the Distribution of Profits or Losses Elisa Diar and Ma. Concepcion Manalo formed a partnership, investing P330,000 and P110,000, respectively. Determine the partners' participation in the 2019 profit of P420,000 under each of the following independent assumptions: E. Interest at the rate of 8% allowed on original investments and the remainder divided in the ratio of 2:3. d. Salary allowances of P50,000 and P70,000, respectively, and the balance to be divided equally e. Allowance of interest at the rate of 8% on inal investments, salary allowances P50,000 and P70,000, respectively, and the remainder to be divided equally
Elisa Diaz and Ma. Concepcion Manalo formed a partnership, investing P330,000 and P110,000, respectively. Determine the partners' participation in the 2018 profit of P420,000 under each of the following independent assumptions: a. No areement concerning division of profit. B. Divided in the ratio of original capital investment. C. Interest at th rate of 8% allowed on original investments and the remainder divided in the ratio of 2:3 D. Salary allowances of P50,000 and P70,000, respectively, and the balance to be divided equally. E.Allowance of interest at the rate of 8% on original investments, salary allowances of P50,000 and P70,000, respectively, and the remainder to be divided equally.
Problem #3 Rules for the Distribution of Profits or Losses Elisa Diaz and Ma. Concepcion Manalo formed a partnership, investing P330,000 and P110,000, respectively. Determine the partners' participation in the 2019 profit of and P420,000 under each of the following independent assumptions: a. No agreement concerning division of profit. b. Divided in the ratio of original capital investment. С. Interest at the rate of 8% allowed on original investments and the remainder divided in the ratio of 2:3. d. Salary allowances of P50,000 and P70,000, respectively, and the balance to be divided equally. e. Allowance of interest at the rate of 8% on original investments, salary allowances of P50,000 and P70,000, respectively, and the remainder to be divided equally.
Problem #3 Rules for the Distribution of Profits or Losses Elisa Diaz and Ma. Concepcion Manalo formed a partnership, investing P330,000 and P110,000, respectively. Determine the partners' participation in the 2019 profit of P420,000 under each of the following independent assumptions:
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