41) G, H, and I invest P50,000, P35,000 and P20,000 respectively, in a partnership on June...

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41) G, H, and I invest P50,000, P35,000 and P20,000 respectively, in a partnership on June 30, 20x7. They agree to divide net income or loss as follows: 1. Interest at 10% on beginning capital account balances 2. Salaries of P15,000, P10,000 and P5,000, respectively to G, H and I Remaining net income or loss divided equally 3. 4. A minimum of P25,000 of income guaranteed to I. If the net income for the year ended June 30,20x7 before interest and salary allowances to partners was P75,000, the amount of the net income credited to E is: a. P21,750 b. P28,250 c. P31,500 d. P25,000 41) G, H, and I invest P50,000, P35,000 and P20,000 respectively, in a partnership on June 30, 20x7. They agree to divide net income or loss as follows: 1. Interest at 10% on beginning capital account balances 2. Salaries of P15,000, P10,000 and P5,000, respectively to G, H and I Remaining net income or loss divided equally 3. 4. A minimum of P25,000 of income guaranteed to I. If the net income for the year ended June 30,20x7 before interest and salary allowances to partners was P75,000, the amount of the net income credited to E is: a. P21,750 b. P28,250 c. P31,500 d. P25,000

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