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How do you distribute the bonus to remaining partners for this? Jose, Josie, and Josel are partners sharing profits and losses of 30%,30%, and 10%,
How do you distribute the bonus to remaining partners for this?
Jose, Josie, and Josel are partners sharing profits and losses of 30%,30%, and 10%, respectively. The December 31, 2023 trial balance included the following information: On January 1, 2024, a partner decided to retire from the partnership and by mutual agreement among the partners, the following adjustments shall be made: 1. Inventories amounting to P50,000 is considered obsolete and must be written off. 2. The fair value of the equipment is P250,000. Josel retired and received P250,000 in settlement of her total interest. Jose, Josie, and Josel are partners sharing profits and losses of 30%,30%, and 10%, respectively. The December 31, 2023 trial balance included the following information: On January 1, 2024, a partner decided to retire from the partnership and by mutual agreement among the partners, the following adjustments shall be made: 1. Inventories amounting to P50,000 is considered obsolete and must be written off. 2. The fair value of the equipment is P250,000. Josel retired and received P250,000 in settlement of her total interestStep by Step Solution
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