Question
Virgie was credited with salary of P72,000 and interest of 12,000 o her capital contributions. She was charged with P6,000 as her share in the
Virgie was credited with salary of P72,000 and interest of 12,000 o her capital contributions. She was charged with P6,000 as her share in the remainder on a 1:1 ratio. The capital contributions are P100,000 for Virgie and 200,000 for Rose. Only Virgie is the managing partner. How much was the total profit for distribution?
Question 6 options:
|
| 96,000 |
|
| 72,000 |
|
| 90,000 |
|
| 66,000 |
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Evaluating The Effectiveness On Internal Audit Departments
Authors: W. Steve Albrecht, Keith R. Howe, Dennis R. Schueler, Kevin D. Stocks
1st Edition
089413177X, 978-0894131776
