OO, PP, and QQ formed a joint operation to bankroll a series of 

cultural shows for the Philippine Centennial celebration. OO and PP agreed to contribute

cash and QQ was to manage the affairs of the joint operation. QQ was to receive a bonus

of 25% of the net income before bonus, OO and PP were to be allowed interest on their

capital contributions at 6% per annum, and any remainder was to be divided equally

among the three partners. After a year, the joint operation was terminated and the

following information was provided: original capital contributions used to purchase tickets,

were P 1,815,000 and P 2,475,000, respectively, from OO and PP; QQ sold tickets worth

a total of P 6,600,000; and QQ paid expenses of P 1,899,150 out of joint operation funds.

How much was the joint operation's net income after the bonus to QQ?

Answer rating: 100% (QA)

To find the joint operations net income after the bonus to QQ we first need to calcu... View the full answer