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Find what the total profit share of hernan would be

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Reference no: EM132764573

El, Vi, and Hernan are partners in an accounting firm. Their ending capital account balances were: El - P90,000; Vi - P110,000 and Hernan - P50,000. They share profits and losses in a 4:4:2 ratio, after the following special terms:

  • Partner Hernan is to receive a bonus of 10% of the profit after bonus.
  • Interest of 10% shall be paid on that portion of the partner's capital in excess of P100,000.
  • Salaries of P10,000 and P12,000 shall be paid to partners El and Hernan, respectively.

Problem 1: Assuming profits of P44,000 in 2019, the total profit share of Hernan would be ________________.

a. P7,800
b. P19,800
c. P16,800
d. P19,400

Reference no: EM132764573

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