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ACTIVITIES AND EXERCISES [PARTNERSHIP OPERATIONS} l. Partners A and B share in profits and losses equally after salaries of Pi 50.000 for A and P65,000 for B. The business earned profit of P250000 before deduction for the salaries. Requirements: a. Compute for the partners' respective shares in the profit. b. Provide the journal entries {the salaries are withdrawn periodically}. 2. A and B's partnership agreement provides for annual salary allowances of Pi F0000 for A and for B. Profits are shared equallv while losses are shared on a 60:40 ratio. The partnership earned profit of P210000. Requirement: Compute for the respective shares of the partners in the profit. 3. The partnership agreement at A and B states the following: * Monthly salary of PTUDOU for A. * 20% bonus to A. before deductions for salary. interest: and bonus - 10% interest on the weighted average capital at B. * Balance is shared equally. B's weighted average capital balance is P200000. The partnership reported profit of P605000 tor the year, net of salaries, bonus and interest Requirement: Compute for A's share in the profit