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Henry, Ruby, Tarzan, and Karel own a publishing company that they operate as a partnership. The partnership agreement includes the following: Henry receives a salary
Henry, Ruby, Tarzan, and Karel own a publishing company that they operate as a partnership. The partnership agreement includes the following: Henry receives a salary of P20,000 and a bonus of 3% of income after all bonuses. Ruby receives a salary of P10.000 and a bonus of 2% of income after all bonuses. All partners are to receive 10% interest on their average capital balances. The average capital balances are as follows: Henry Ruby Tarzan Karel P50,000 45,000 20,000 47,000 Any remaining profits and loss are to be divided equally among the partners. The net income for the year is P105.000. The share of Henry in the net income for the year will be answer is not given 039.700 28.000
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