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ASSIGNMENT
ASSIGNMENT
Partners A and B have a profit and loss agreement with the following provisions: salaries of P20,000 and P25,00
BB and GG formed a partnership in 20x4. The partnership agreement provides for annual salary allowances of P
Partners A and B have a profit and loss agreement with the following provisions: salaries of P30,000 and P45,00
Partners A and B have a profit and loss agreement with the following provisions: salaries of P40,000 and P45,00
Partners A and B have a profit and loss agreement with the following provisions: salaries of P40,000 and P45,00
Partners Acker, Becker, and Checker have the following profit and loss agreement"
a. Acker and Becker receive salaries of P40,000 each
b. Checker gets a bonus of 10% of net income after salaries and bonus
c. Remaining profits are shared by Acker, Becker and Checker in the following ratios
The partnership had a net income of P91,000. How much should be allocated to Checker?
Partners A and B have a profit and loss agreement with the following provisions: salaries of P41,600 and P38,40
Partners Tuba and Drum share profits and losses of their partnersip equally after annual salary allowances of P2
Robbie and Ruben are partners operating a portable toilet lease and maintenance operation. For 20x4, net inco
laries of P20,000 and P25,000 for A and B, respectively; a bonus to A of 10% of net income after bonus; and interest of 20% on average
Bonus Computation
B=10%(88000-B)
B= (8800-.10b)
.10+B=8800
1.10B=8800
1.1
B= 8,000.00
nnual salary allowances of P55,000 for BB and P45,000 for GG. The partners share profits equally and losses in a 60:40 ratio. The partn
laries of P30,000 and P45,000 for A and B, respectively; a bonus to A of 12% of net income after salaries and bonus; and interest of 10%
B= 12%(108600-75000-b)
B= 13032-9000-.12b
B= 4032-.12b
.12B+B = 4032
1.12B=4032
1.12
B= 3,600.00
laries of P40,000 and P45,000 for A and B, respectively; a bonus to A of 10% of net income after salaries and bonus; and interest of 15%
laries of P40,000 and P45,000 for A and B, respectively; a bonus to A of 10% of net income after salaries and bonus; and interest of 15%
B=10%(52000-85000-b)
B=5200-8500-.10b
.10b+b=3300
1.10b=3300
1.1
B= 3,000.00
laries of P41,600 and P38,400 for A and B, respectively; a bonus to A of 10% of net income after salaries and bonus; and interest of 10%
B=10%(36000-80000-b)
B=3600-8000-.10b
.10b+b=4400
1.10b=4400
1.1
B=4000
nnual salary allowances of P25,000 for Tuba and P20,000 for Drum and 10% interest is provided on average capital balances. During 20
come, after salaries expense of P150,000 was P50,000. Mack and Ruben have salary allowances of P90,000 and P60,000, respectively,
Add back the salary expense to the net income after salary expense to get the net income before salary expense
50,000.00
150,000.00
200,000.00
operation. For 20x4, net income was P50,000. Robbie and Ruben have salary allowances of P90,000 and P60,000, respectively, and rem
r month. Alta's post-closing capital balance on December 31, 20x4 is P30,000. Alta's share of 20x4 pa
us; and interest of 20% on average capital balances of P40,000 and P50,000 for A and B, respectively. A
d losses in a 60:40 ratio. The partnership had earnings of P80,000 for 20x5 before any allowances to par
ies and bonus; and interest of 10% on average capital balances of P50,000 and P65,000 for A and B, re
ies and bonus; and interest of 15% on average capital balances of P40,000 and P60,000 for A and B, re
ies and bonus; and interest of 15% on average capital balances of P40,000 and P60,000 for A and B, re
ies and bonus; and interest of 10% on average capital balances of P20,000 and P35,000 for A and B, res
verage capital balances. During 20x4, the partnership had earnings of P50,000; Tuba's average capita
90,000 and P60,000, respectively, and remaining profits and losses are shared 6:4. The division of sala
nd P60,000, respectively, and remaining profits and losses are shared 6:4. If their agreement specifies th