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Distribution of Profits and Losses Use the following information for the next 5 questions. SANTIAGO & SEBASTIEN. Santiago and Sebastien are partners in a business.
Distribution of Profits and Losses
Use the following information for the next questions.
SANTIAGO & SEBASTIEN. Santiago and Sebastien are partners in a business. Santiagos original capital investment was P and Sebastiens was P They agreed to share profits and losses as follows:
If profit for the year was P what is the share of Santiago in the partnership profit?
If profit for the year was P what is the share of Sebastien in the partnership profit?
If losses for the year were P what is the share of Santiago in the partnership losses? Encode as a negative number if the final answer is a negative or a share in loss.
If profit for the year was P what is the share of Santiago in the partnership profit?
The terms of a partnership agreement provide that one of the partners is to receive a salary allowance of P plus a bonus of percent of income after deduction of salary allowance. If net income is P how much is the bonus?
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