Question
A, B, and C are partners in X Partnership. A and B are capitalist partners, with capital contributions of P12,000 and P6,000, respectively. C is
A, B, and C are partners in X Partnership. A and B are capitalist partners, with capital contributions of P12,000 and P6,000, respectively. C is an industrial partner. Determine each of the partner's share in profit or loss in the following cases:
(Assume just and equitable compensation of P10,000, as necessary)
1. Profit and Loss Agreement : A - 50%; B - 0%; C - 50%;; Net Income of P20,000. 2. Profit and Loss Agreement : A - 50%; B - 30%; C - 20%; Net Loss of P20,000. 3. Without Profit and Loss Agreement. Net Loss of P10,000. 4. Without Profit and Loss Agreement. Net Income of P20,000.
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