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How much should be allocated Abulencia

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Question - Abulencia and Daguiso have the following profit and loss agreement: salaries of P30,000 and P45,000 for Abulencia and Daguiso, respectively; a bonus to Abulencia of 10% of profit after salaries and bonus; and interest of 10% on average capital balances of P20,000 and P35,000 for Abulencia and Daguiso, respectively. One-third of any remaining profit is allocated to Abulencia and the balance to Daguiso. If the partnership had a profit of P102,500, how much should be allocated Abulencia?

Reference no: EM132969568

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