14. Ravelo, and Febrero, are partners agreeing to allow monthly salaries of P6,000 and P5,000, respectively; 6% interest on the capital investment at the beginning of the year of P300,000 and P230,000, respectively; and the balance equally. The first year registered a profit of P100,000. The partners' share should be a. Ravelo, P58,000: Febrer, P41,900 b. Ravela, P56,600: Febrero, P43,400 c. Ravelo. P54,500; Febrero, P45,500 d. Ravelo, P50,000: Febrero, P50,000 15. Santos and Gloria share profits in the ratio of 3:2. However, Santos is to receive a bonus of 20% of the profits, in addition to his profit share. The partnership made a profit for the year of P24,000 before the bonus. Assuming Santos' bonus is computed on profit after deducting said bonus, how much profit share will Gloria receive? a. 15,200 b. 8,800 c. 9,600 d. 9,000 18. Espiritu and Cheng have the following profit and loss agreement: salaries of P30,000 and P45,000 for Espiritu and Cheng, respectively; a bonus to Espiritu of 10% of profit after salaries and bonus; interest of 10% on average capital balances of P20,000 and P35,000 for Espiritu and Cheng, respectively; and any balance equally if the profit is P102,500, how much should be allocated to Espiritu? a. 58,250 b. 47,798 c. 44,250 d. 44,125 17. Hermosilla Gonzaga, and Mallari are partners with average capital balances during the year of P120,000, P60,000 and P40,000, respectively. Partners receive 10% interest on their average capital balances. After deducting salaries of P30,000 to Hermosilla and P20,000 to Gonzaga, the residual profit or loss is divided equally. The partnership sustained a P33,000 loss before interest and salaries to partners. By what amount should Hermosilla's capital account change? a. 42,000 decrease b. 35,000 decrease c. 11,000 decrease d. 7,000 increase 18. Jaoupan, is trying to decide whether to accept a salary of P40,000 or a salary of P25,000 plus a bonus of 10% of profit after the bonus as a way of dividing profits among the partners. What amount of profit would make the choices equal? a. 165,000 c. 290,000 b. 265,000 d. 305,000 19. Buen and Becan have capital balances at the beginning of the year of P600,000 and P875,000. respectively. They share profit as follows: Interest of 8% on beginning capital balances Salary allowances of P255,000 to Bueno and P115,000 to Becan Balance in the ratio of 3:2 The partnership realized a profit of P375,000 during the current year before interest and salary allowances to partners. 1. Assuming that Bueno and Becan, simply agree to share profit in a 3:2 ratio with a minimum of P175,000 guaranteed to Beran, show how the profit of P375,000 should be divided.