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Compute for b share in the profit

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The partnership agreement of A and B states the following:

  • Monthly salary of P10,000 for A.
  • 20% bonus to A, before deductions for salary, interest, bonus.
  • 10% interest on the weighted average capital of B.
  • Balance is shared equally.

B's weighted average capital balance is P200,000. The partnership reported profit of P60,000 for the year, net of salaries, bonus and interest.

Requirement:

Problem 1: Compute for B's share in the profit.

Reference no: EM132929662

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