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Can you help me to answer this and also can include the computation? Thank you! Determine how a profit of P105,000 would be allocated among
Can you help me to answer this and also can include the computation? Thank you!
Determine how a profit of P105,000 would be allocated among partners. AA, BB, CC and DD own a publishing company that they operate as partnership. The partnership agreement includes the following: AA receives a salary of 20,000 and a bonus of 3% of income after all bonuses. BB receives a salary of 10,000 and a bonus of 2% of income after all bonuses. All partners are to receive 10% interest on their average capital. The average capital balances are AA, 50,000; BB 45,000; CC, 20,000 and DD, 47,000. Any remaining profits and losses are to be allocated equally among the partnersStep by Step Solution
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