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Please show computation thanks Topic: Division of profits by providing salaries, interest and bonus Problem 1 Kay and San are partners with beginning capital balances

Please show computation thanks

Topic: Division of profits by providing salaries, interest and bonus

Problem 1

Kay and San are partners with beginning capital balances of P80,000 and P60,000 respectively. They agreed to allow 10% interest each based on their respective beginning capital balances and the remainder is to be divided equally.

Case 1 The profit for distribution is P30,000

Case 2 The profit for distribution is P12,000

Case 3 The loss for distribution is P10,000

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