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PROBLEM III: Dada and Mama, had capital accounts in 2015 as follows: Dada Capital Mama, Capital 04/01 5,000 01/01 38,000 09/01 3,000 01/01 15,000
PROBLEM III: Dada and Mama, had capital accounts in 2015 as follows: Dada Capital Mama, Capital 04/01 5,000 01/01 38,000 09/01 3,000 01/01 15,000 07/31 10,000 10/01 1,000 06/01 10,000 09/30 5,000 11/30 5,000 12/01 4,000 . . Mama and Dada receive a monthly salary of P 2,000 and P 1,000 respectively. Dada receives a 20% bonus based on income after salaries, Interest, but before bonus. Interest is 5% of their average capital balances. The remainder shall be allocated based on ending capital balance if negative while it shall be based on average capital balance if positive. (use 2 decimal places) 14. If the partnership reports income of P100,000 in 2015 before salaries, interest and bonus what is the share of Dada if salaries and interest are treated as allocation of net income?
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