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How much is the bonus given to Jfenix

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Question - Jpea, Jic, and Jfenix formed a partnership and named it ESBIEYEY. At the end of the year, the partnership earned a profit of P 1,000,000.The capital balances are P250,000,P280,000, and P270,000 for Jpea,Jic, and Jfenix, respectively. The partners agreed to distribute the profit as follows:

Interest to ending capital of 10% will be given

Jpea and Jic will be given a salary amounting to Php 150,000 each

Jfenix will be given a bonus of 10% of net income after interest, salary and bonus

Remaining profit is to be distributed equally

1. How much is the bonus given to Jfenix?

A. 62,000

B. 67,000

C. 60,909

D. 56,364

2. How much is Jpea's share in net income?

A. 360,879

B. 362,879

C. 365,879

D. 364,879

3. How much is Jic's share in net income?

A. 364,879

B. 362,879

C. 360,879

D. 365,879

Reference no: EM133111346

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