What should Figueroa’s total profit share be for the year ended Dec. 31, 2018?
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Figueroa and Aguhob are partners in a CPA Review School. They share profits in the ratio of 2:1. Only July 1, 2018 they admitted Figueroa’s son Doblas as a partner. Figueroa guaranteed that Doblas’ profit share would not be less than P25,000 for the six months to Dec. 31, 2018. The profit sharing agreements after Doblas’ admission is as follows: Figueroa 50%, Aguhob 30% and Doblas 20%. The profit for the year end Dec. 31, 2018 was P240,000 accruing evenly over the year. What should Figueroa’s total profit share be for the year ended Dec. 31, 2018?
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- Figueroa and Aguhob are partners in a CPA Review School. They share profits in the ratio of 2:1. On July 1, 2019 they admitted Figueroa's son Doblas as a partner. Figueroa guaranteed that Doblas' profit share would not be less than P25,000 for the six months to Dec. 31, 2019. The profit sharing arrangements after Doblas' admission is as follows: Figueroa 50%, Aguhob 30% and Doblas 20%. The profit for the year ended Dec.31, 2019 was P240,000 accruing evenly over the year. What should Figueroa's total profit share be for the year ended Dec. 31, 2019?Figueroa and Aguhob are partners in a CPA Review School. They share profits in the ratio of 2:1. On July 1, 2016 they admitted Figueroa's son Doblas as a partner. Figueroa guaranteed that Doblas' profit share would not be less than P25,000 for the six months to Dec. 31, 2016. The profit sharing arrangements after Doblas admission is as follows: Figueroa 50%, Aguhob 30% and Doblas 20%. The profit for the year ended Dec.31, 2016 was P240,000 accruing evenly over the year. What should Figueroa's total profit share be for the year ended Dec. 31, 2016? a. P140,000 b. P139,000 c. P114,000 d. P139,375Malaluan and Baral are partners. They share profits in the ratio of 3:2 respectively and close their accounts on June 30 each year. On January 1, 2020, Castro joined the partnership . The profit sharing ratio was revised to become Malaluan – 50%, Baral – 25% and Castro – 25%, after providing for annual salaries as follows: Baral, P20,000 and Castro, P12,000. The partnership profit for the year ended June 30, 2020 was P480,000, accruing evenly over the year. What are the partner's total total share in profit for the year ended June30,2016? Refozar, Martinez and Magsino formed a partnership. It's on a calendar year basis. The profit-sharing arrangements are as follows: Until June 30 2016, the annual salaries are provided as follows: Martinez, P40,000 and Magsino, P20,000. The residual profit will be shared in the ratio of 6:2:2. From July 1, 2016, the salaries will be discontinued and the profit to be divided in the revised ratio of 5:3:2. Profit for the year ended Dec.31,2016 was…
- Malaluan and Baral are partners. They share profits in the ratio of 3:2 respectively and close their accounts on June 30 each year. On January 1, 2020, Castro joined the partnership . The profit sharing ratio was revised to become Malaluan – 50%, Baral – 25% and Castro – 25%, after providing for annual salaries as follows: Baral, P20,000 and Castro, P12,000. The partnership profit for the year ended June 30, 2020 was P480,000, accruing evenly over the year. Compute the share of Baral in the profit.Malaluan and Baral are in partnership. They share profits in the ratio 3:2 and close their accounts on June 30 each year. On Jan. 1, 2018, Castro joined the partnership. The profit-sharing ratio was revised to become Malaluan 50%, Baral 25% and Castro 25%, after providing for annual salaries as follows: Baral, P20,000 and Castro, P12,000. The partnership profit for the year ended June 30, 2018 was P480,000, accruing evenly over the year. What are the partners’ total share in profits for the year ended June 30,2018?Malaluan and Baral are partners. They share profits in the ratio of 3:2 respectively and close their accounts on June 30 each year. On January 1, 2020, Castro joined the partnership . The profit sharing ratio was revised to become Malaluan – 50%, Baral – 25% and Castro – 25%, after providing for annual salaries as follows: Baral, P20,000 and Castro, P12,000. The partnership profit for the year ended June 30, 2020 was P480,000, accruing evenly over the year. Compute the share of Baral in the profit. P162,000 b. P168,000 c. P166,000 d. P156,000
- Malaluan and Baral are partners. They share profits in the ratio of 3:2 respectively and close their accounts on June 30 each year. On January 1, 2020, Castro joined the partnership . The profit sharing ratio was revised to become Malaluan – 50%, Baral – 25% and Castro – 25%, after providing for annual salaries as follows: Baral, P20,000 and Castro, P12,000. The partnership profit for the year ended June 30, 2020 was P480,000,What should Figueroa's total profit share be for the year ended December 31, 2016? * Figueroa and Aguhob are partners in a CPA Review School. They share profits in the ratio of 2:1. On July 1, 2016 they admitted Figueroa's son Doblas as a partner. Figueroa guaranteed that Doblas' profit share would not be less than P25,000 for the six months to Dec. 31, 2016. The profit sharing arrangements after Doblas' admission is as follows: Figueroa 50%, Aguhob 30% and Doblas 20%. The profit for the year ended Dec.31, 2016 was P240,000 accruing evenly over the year. What should Figueroa's total profit share be for the year ended Dec. 31, 2016? Your answer Share premium Effective April 27, 2016, the shareholders of Fernando Corp, approved a 2-for-1 solu of the corporation's ordinary shares, and an increase in authorized ordinary shate from 100,000 shares to 200,000 shares. Fernando's shareholders' equity accounte immediately before issuance of the share split shares were as follows: Ordinary…Villanueva and Mulles are partners sharing profits in the ratio of 3:2. On Jan 1,, 2019. Lucena joined the partnership and the new profit sharing ratio is as follows: Villanueva-40%, Mulles-30% and Lucena-30%. Profits for the year ended June 30, 2019 were: ^ months ended Dec. 31,, 2018 - P300.000; 6 months ended June 30, 2019 - P450,000. An irrecoverable debt of P50,000 was written off in the six months to June 30 in computing the P450,000 profit. It was agreed that this expense should be borne by Villanueva and Mules only. What is Villanueva's total profit share for the year ended June 30, 2019? 5 points a. P330,000 b. P310,000 c. P340,000 d. P350,000
- Refozar, Martinez and Magsino formed a partnership. It’s on a calendar year basis. The profit-sharingarrangements are as follows:Until June 30, 2019, the annual salaries are provided as follows: Martinez, P40,000 andMagsino, P20,000. The residual profit will be shared in the ratio of 6:2:2.From July 1,2019, the salaries will be discontinued and the profit to be divided in the revised ratioof 5:3:2.Profit for the year ended Dec. 31, 2019 was P400,000 before charging partners’ salaries, accruing evenlythrough the year, and after charging an expense of P40,000, which it was agreed related wholly to thefirst six months of the year. How should the profit for the year be divided among the partners? Refozar P182,000 Martinez P130,000 MagsinoP88,000 a. b. P200,000 P116,000 P84,000c. P198,000 P118,000 P88,000d. P180,000 P132,000 P88,000Refozar, Martinez and Magsino formed a partnership. It’s on a calendar year basis.The profit-sharing arrangements are as follows: Until June 30,2018, the annual salaries are provided as follows: Martinez P40,000 and Magsino, P20,000. The residual profit will be shared in the ratio of 6:2:2. From July 1,2018, the salaries will be discontinued and the profit to be divided in the revised ratio of 5:3:2. Profit for the year ended Dec. 31,2018 was P400,000 before charging partners’ salaries, accruing evenly through the year and after charging an expense of P40,000, which it was agreed related wholly to the first six months of the year. How should the profit for the year be divided among the partners?Refozar, Martinez and Magsino formed a partnership. It’s on a calendar year basis. The profit-sharing arrangements are as follows:Until June 30, 2019, the annual salaries are provided as follows: Martinez, P40,000 and Magsino, P20,000. The residual profit will be shared in the ratio of 6:2:2.From July 1,2019, the salaries will be discontinued and the profit to be divided in the revised ratio of 5:3:2. Profit for the year ended Dec. 31, 2019 was P400,000 before charging partners’ salaries, accruing evenly through the year, and after charging an expense of P40,000, which it was agreed related wholly to the first six months of the year. How should the profit for the year be divided among the partners?