Question
Partners A, B and C are contemplating using the following profit distribution plan: Salary is to be given to A in the amount of P60,000,
Partners A, B and C are contemplating using the following profit distribution plan: Salary is to be given to A in the amount of P60,000, with the remainder in an equal rates to all partners. A is guaranteed a minimum profit share of P100,000.
a) Profit for the first year is P240,000
b) Profit for the second year is P150,000.
Compute for the profit share of partners B and C in both years.
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Accounting History And The Rise Of Civilization, Volume II
Authors: Gary Giroux
1st Edition
163157793X, 9781631577932
