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PROBLEM 1-A Alexander and Eddie formed a partnership on January 1, 2018 by contributing P80,000 and P120,000, respectively. As of January 1, 2019, their
PROBLEM 1-A Alexander and Eddie formed a partnership on January 1, 2018 by contributing P80,000 and P120,000, respectively. As of January 1, 2019, their partnership capital were P90,000 and P110,000, respectively. Situations: 1. No profit sharing agreement 2. No loss sharing agreement 3. Profit is divided equally 4. Loss divided 30:70 to Alexander and Eddie respectively Required: Compute the share of Alexander and Eddie assuming the profit is P40,000 under the following combined situations: Note: For share in loss, use negative sign. Always use commas. 1. Alexander's share under situation A & B Blank 1 2. Eddie's share under situation A & B Blank 2 3. Alexander's share under situation B & C Blank 3 4. Eddie's share under situation B & C Blank 4 5. Alexander's share under situation A & D Blank 5 6. Eddie's share under situation A & D Blank 6 7. Alexander's share under situation C & D Blank 7 8. Eddie's share under situation C & D Blank 8 9. Alexander's share under situation C & D with guaranteed P25,000 minimum profit sharing to Eddie Blank 9 10. Eddie's share under situation C & D with guaranteed P25,000 minimum profit sharing to Eddie Blank 10
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