Viola, Iona and Paula form a joint for the sale of merchandise. Iona and Paula are...
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Viola, Iona and Paula form a joint for the sale of merchandise. Iona and Paula are to contribute the merchandise, Viola is to act as the manager and is to be allowed a bonus of 25% of the profit after deduction of the bonus as expense. Iona and Paula are to be allowed 6% interest a year on their original investment. The balance of any profit on the venture is to be divided equally among the three parties. On July 1, 2020, Iona and Paula contributed merchandise of P66, 000 and P 90,000, respectively. For the period between July 1 and October 1, Viola sold Viola, Iona and Paula form a joint for the sale of merchandise. Iona and Paula are to contribute the merchandise, Viola is to act as the manager and is to be allowed a bonus of 25% of the profit after deduction of the bonus as expense. Iona and Paula are to be allowed 6% interest a year on their original investment. The balance of any profit on the venture is to be divided equally among the three parties. On July 1, 2020, Iona and Paula contributed merchandise of P66, 000 and P 90,000, respectively. For the period between July 1 and October 1, Viola sold
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Joint Venture Scenario 1 Viola Iona and Paula 1 Net Profit Loss before Bonus to Viola Net Sales P229... View the full answer
Related Book For
Smith and Roberson Business Law
ISBN: 978-0538473637
15th Edition
Authors: Richard A. Mann, Barry S. Roberts
Posted Date:
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