Question
Bi and Be are partners of BiBe Partnership who have capital balances of P312,000 and P288,000, respectively. Their profit sharing agreement for the income of
Bi and Be are partners of BiBe Partnership who have capital balances of P312,000 and P288,000, respectively. Their profit sharing agreement for the income of P85,000: Monthly salary of P1,000 will be provided to Bi; Interest of P10,000 for Bi and P15,000 for Be; and the remaining balance will be shared in the ratio of 3:2 for Bi and Be, respectively. How much is the share of Partner Bi?
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Management Accounting Principles And Applications
Authors: Hugh Coombs, D Ellis Jenkins, David Hobbs
1st Edition
1412908434, 978-1412908436
