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Ben and Carl formed their partnership on January 1, 2021 with the following capital balances: Ben Carl Capital P265,000 P110,000 Their profit and loss share
Ben and Carl formed their partnership on January 1, 2021 with the following capital balances: Ben Carl Capital P265,000 P110,000 Their profit and loss share agreement is as follows: Interest of 10% on beginning capital Ben is given salary of P12,000 while Carl gets an allowance of P9,000 . Carl is allowed a 10% bonus after interest and salary allowances . Any remainder is divided in the ratio of their beginning capital balances. How much is Carl's share in the partnership's 2021 net income of P83,000
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