Perez, Daganta and Barros established a business partnership. The agreement provided for the following: a. Profits...

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Perez, Daganta and Barros established a business partnership. The agreement provided for the following: a. Profits or losses shall be divided in the ratio of 1:1:1 after allowing for 10% interest on the average capital balances. b. Salaries of P37,500, P67,500 and P22,500, respectively. c. Bonus to Barros of 5% of profits after salaries and interest allowances. Average capital balances for 2006 are: Perez, P300,000; Daganta, P225,000 and Barros, P450,000. Required: Prepare a schedule for the distribution of profit under each of the following levels of profits or losses: 1. P270,000 profit 2. P225,000 profit 3. P45,000 loss Perez, Daganta and Barros established a business partnership. The agreement provided for the following: a. Profits or losses shall be divided in the ratio of 1:1:1 after allowing for 10% interest on the average capital balances. b. Salaries of P37,500, P67,500 and P22,500, respectively. c. Bonus to Barros of 5% of profits after salaries and interest allowances. Average capital balances for 2006 are: Perez, P300,000; Daganta, P225,000 and Barros, P450,000. Required: Prepare a schedule for the distribution of profit under each of the following levels of profits or losses: 1. P270,000 profit 2. P225,000 profit 3. P45,000 loss Perez, Daganta and Barros established a business partnership. The agreement provided for the following: a. Profits or losses shall be divided in the ratio of 1:1:1 after allowing for 10% interest on the average capital balances. b. Salaries of P37,500, P67,500 and P22,500, respectively. c. Bonus to Barros of 5% of profits after salaries and interest allowances. Average capital balances for 2006 are: Perez, P300,000; Daganta, P225,000 and Barros, P450,000. Required: Prepare a schedule for the distribution of profit under each of the following levels of profits or losses: 1. P270,000 profit 2. P225,000 profit 3. P45,000 loss Perez, Daganta and Barros established a business partnership. The agreement provided for the following: a. Profits or losses shall be divided in the ratio of 1:1:1 after allowing for 10% interest on the average capital balances. b. Salaries of P37,500, P67,500 and P22,500, respectively. c. Bonus to Barros of 5% of profits after salaries and interest allowances. Average capital balances for 2006 are: Perez, P300,000; Daganta, P225,000 and Barros, P450,000. Required: Prepare a schedule for the distribution of profit under each of the following levels of profits or losses: 1. P270,000 profit 2. P225,000 profit 3. P45,000 loss Perez, Daganta and Barros established a business partnership. The agreement provided for the following: a. Profits or losses shall be divided in the ratio of 1:1:1 after allowing for 10% interest on the average capital balances. b. Salaries of P37,500, P67,500 and P22,500, respectively. c. Bonus to Barros of 5% of profits after salaries and interest allowances. Average capital balances for 2006 are: Perez, P300,000; Daganta, P225,000 and Barros, P450,000. Required: Prepare a schedule for the distribution of profit under each of the following levels of profits or losses: 1. P270,000 profit 2. P225,000 profit 3. P45,000 loss Perez, Daganta and Barros established a business partnership. The agreement provided for the following: a. Profits or losses shall be divided in the ratio of 1:1:1 after allowing for 10% interest on the average capital balances. b. Salaries of P37,500, P67,500 and P22,500, respectively. c. Bonus to Barros of 5% of profits after salaries and interest allowances. Average capital balances for 2006 are: Perez, P300,000; Daganta, P225,000 and Barros, P450,000. Required: Prepare a schedule for the distribution of profit under each of the following levels of profits or losses: 1. P270,000 profit 2. P225,000 profit 3. P45,000 loss

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