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As of December 31, 2020, Bulbasaur, Charmander, and Squirtle have capital balances of P350,000, P425,000, and P225,000, respectively. The partners agreed to allow Bulbasaur and
As of December 31, 2020, Bulbasaur, Charmander, and Squirtle have capital balances of P350,000, P425,000, and P225,000, respectively. The partners agreed to allow Bulbasaur and Squirtle to have an interest of 8% based on their capital balances. Charmander is to be given a bonus of 30% of profit before bonus but after tax. All partners are entitled to receive P20,000 salary for the year. The remainder is to be divided based on their capital balances. The partnership profit for the year is P400,000. How much is the share of Squirtle in the partnership profit
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