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- Partners A, B and C are contemplating using the following profit distribution plan: Salary is to be given to A in the amount of P60,000, with the remainder in an equal rates to all partners. A is guaranteed a minimum profit share of P100,000. a) Profit for the first year is P240,000 b) Profit for the second year is P150,000. Compute for the profit share of partners B and C in both years.Multiple Choice Maxwell is trying to decide whether to accept a salary of P40,000 or a salary of P25,000 plus a bonus of 10% of net income. After salaries and bonuses as a means of allocating profit among partners. Salaries traceable to the other partners estimated to be P100,000. What amount of income would be necessary so that Maxwell would consider choices to be equal? O P165,000 O P290,000 P265,000 O P305,000The partnership reports profits of P80,000, net of P20,000 salaries and P30,000 interest and a bonus. The bonus is computed as 20% of profits after salaries and interest. Compute the amount of the bonus. Show your solution. a. P16,000 b. P20,000 c. P26,000 d. P32,500
- PROBLEM 3. Glenda is trying to decide whether to accept a bonus of 25% of net income after salaries and bonus or a salary of P97,500 plus bonus of 10% of net income after salaries and bonus as a means of allocating profit among the partners. Salaries traceable to the other partners are estimated to be P450,000. What amount of income would be necessary so that Glenda would consider the choices to be equal? P1,100,000 P1,197,000 a. b. с. P650,000 d. P1.262.50016. RRR is trying to decide whether to accept a bonus of 25% of net income after salaries and bonus or a salary of P97,500 plus a bonus of 10% of net income after salaries and bonus as a means of allocating profit among the partners. Salaries traceable to the other partners are estimated to be P450,000. What amount of income would be necessary so that RRR would consider the choices to be equal? A. P1,100,000B. P1,197,500C. P650,000D. P1,262,50023. How much is the bonus of C if the bonus is based on the profit after bonus Item Nos. 23 and 24 are based on the following information: iw a1enhsq erts lle animuzaA .2 C, D, and E are partners sharing profits equally after allowing for bonus and salary allowances. C, the managing partner, is allowed a bonus of 20% of the profit. D and E are allowed salaries of P 120,000 and P 150,000, respectively. The partnership registered a profit of P 720,000 for the year 200C. but before the salary allowance? P 120,000.00,08 d. P 144,000. С. а. P 75,000. b. P 90,000. 24. How much is the share of C in the profit if the bonus is based on the profit before bonus but after the salary allowance? c. P 230,000. С. а. P 90,000. b. P 210,000. d. P 240,000. 000.002
- If a partnership has a profit of P44,000 and Partner Ship is to be allocated a bonus of 10% of profit after the bonus, Ship's bonus would be?6. Martinez is trying to decide whether to accept a salary of P60,000 or a salary of P25,000 plus a bonus of 20% of net income after salaries and bonus as a means of allocating profit among the partners. Salaries traceable to the other partners are estimated to be P75,000. What amount of income would be necessary so that Martinez would consider the choices to be equal? a. P175,000 b. P210,000 C. P285,000 d. P310,0005. Dali is trying to decide whether to accept a salary of P80,000 or a salary of P50,000 plus a bonus of 10% of net income after salary and bonus as a means of allocating profitamong the partners. Salaries traceable to the other partners are estimated to beP200,000. What amount of income would be necessary so that Dali would consider thechoices equal?
- 35. Under the partnership agreement, X is to receive bonus of 20% of net income after bonus and the remainder is to be distributed as follows: 35% each to partner X, 35% to partner Y and 30% to partner Z. If partnership's income is P3,180,000. What is the amount of partner X share? *Problem II. GI-HUN, SANG-WOO and SAE-BYEOK are partners of Push-it Partnership. Their capital balances are GI-HUN - P300, SANG-WOO P180 and SAE-BYEOK-P140. The following are their agreement in their profit sharing: 25% bonus to GI-HUN based on profit after deducting the said bonus.. SANG-WOO and SAE-BYEOK will be given 10% interest each on their capital balances. The remaining profits will be shared in the ratio of 3:3:2 for GI-HUN, SANG-WOO and SAE-BYEOK respectively. 7. How much will be the income (loss) if the share of SANG-WOO is P15?Problem II. GI-HUN, SANG-WOO and SAE-BYEOK are partners of Push-it Partnership. Their capital balances are GI-HUN - P300, SANG-WOO P180 and SAE-BYEOK-P140. The following are their agreement in their profit sharing: 25% bonus to GI-HUN based on profit after deducting the said bonus.. SANG-WOO and SAE-BYEOK will be given 10% interest each on their capital balances. The remaining profits will be shared in the ratio of 3:3:2 for GI-HUN, SANG-WOO and SAE-BYEOK respectively. 5. How much is the profit share of GI-HUN if the profit is P330?