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How much is the share of eve in the profit

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Reference no: EM132808897

The Articles of Partnership of Adam and Eve the following provisions were stipulated:

  1. Annual salary of P60,000 each
  2. Bonus to Adam of 20% of the net income after partner's salaries and bonus, the bonus being treated as an expense.
  3. Balance to be divided equally.

Problem 1: The partnership reported a net income of P360,000 after partners' salaries but before bonus. How much is the share of Eve in the profit?

a. 60,000

b. 90,000

c. 150,000

d. 210,000

E. none

Reference no: EM132808897

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