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I need this now please Problem: Taguro and Ichigo are partners in their Ghost Fighting business. Ichigo is the managing partner. As of December 31,

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I need this now please

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Problem: Taguro and Ichigo are partners in their Ghost Fighting business. Ichigo is the managing partner. As of December 31, 2014, their capital account showed the following: Taguro Capital Ichigo Capital Debit Credit Debit Credit July 1 45,000 Jan. 1 300,000 April 1 90,000 Jan. 1 450,000 Dec. 1 30,000 April 1 30,000 Dec. 1 105,000 June 1 150,000 Nov. 1 105,000 Oct. 1 195,000 Case 1: Assuming the partnership earned a net profit of P360,000. Case 2: Assuming the partnership incurred a net loss of P60,000. Required: On your note book, using the following independent agreements, distribute the profit or loss in case 1, and 2 to Taguro and Ichigo: 1. Equally 2. 2:4 ratio for Taguro and Ichigo respectively. 3. 60%:40% ratio for Taguro and Ichigo respectively. 4. Based on Beginning capital balances. 5. Based on ending capital balances. 6. Based on average capital balances. 7. They agreed to divide the net profit or loss by: a. Allowing 10% interest on average capital; b. Allowing salary to Ichigo amounting to P60,000; c. Ichigo will receive a 10% bonus on net income and; d. The balance is based on 60:40 ratio to Taguro and Ichigo respectively

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