Problem #19 Distribution of Profits or Losses Based On Partners' Agreement
Problem #19 Distribution of Profits or Losses Based On Partners' Agreement
Problem #19 Distribution of Profits or Losses Based On Partners' Agreement
Toys for the Big Boys is a partnership that sells sporting goods. The partnership agreement provides for 10% interest on
invested capital; salaries of P240000 to Alvaro and P280000 to Yacapin; and bonus for Alvaro. The 2018 capital accounts
were as follows: