The partnership agreement of A and B stipulates the following: Annual salaries of P100,000 for A...

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The partnership agreement of A and B stipulates the following: Annual salaries of P100,000 for A and P60,000 for B. 20% bonus to A, based on profit after salaries and bonus. • Balance is shared equally. The partnership earned profit of P520,000 before salaries and bonus. Requirement: Compute for the respective shares of the partners in the profit. 4. A and B's partnership agreement provides for an annual salary allowance of P100,000 for A and 10% interest on the weighted average capital balance of B. The remainder is shared equally. During the period, the partnership earned profit of P200,000. B's capital account had a beginning balance of P120,000. B made additional investments of P60,000 on March 1, P40,000 on Sept. 30, and made drawings of P30,000 on Aug. 1 and P9,000 on Nov. 1. Requirement: Compute for the respective shares of the partners in the profit. The partnership agreement of A and B stipulates the following: Annual salaries of P100,000 for A and P60,000 for B. 20% bonus to A, based on profit after salaries and bonus. • Balance is shared equally. The partnership earned profit of P520,000 before salaries and bonus. Requirement: Compute for the respective shares of the partners in the profit. 4. A and B's partnership agreement provides for an annual salary allowance of P100,000 for A and 10% interest on the weighted average capital balance of B. The remainder is shared equally. During the period, the partnership earned profit of P200,000. B's capital account had a beginning balance of P120,000. B made additional investments of P60,000 on March 1, P40,000 on Sept. 30, and made drawings of P30,000 on Aug. 1 and P9,000 on Nov. 1. Requirement: Compute for the respective shares of the partners in the profit.

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Computation of the respective shares of partners A and B in the profit are as follows Calculation of the total salaries and bonus As salary 100000 Bs ... View the full answer