Reference no: EM133103330
Problem - Rajon and Rondo are partners with the following capital transactions during 2019:
|
Rajon
|
Rondo
|
|
Balance Jan 1
|
P135, 000 cr
|
P140, 000 cr
|
|
February 28
|
P40, 000 dr
|
|
|
March 31
|
|
P60, 000 cr
|
|
April 30
|
P80, 000 cr
|
|
|
June 30
|
|
P50, 000 dr
|
|
August 31
|
|
P70, 000 cr
|
|
September 30
|
P20, 000 cr
|
|
|
October 31
|
|
P20, 000 dr
|
The income summary account has a credit balance of P450,000
Required - Prepare a statement of profit distribution for each of the following independent profit-sharing agreements:
1. In the average capital ratio
2. Interest on average capital at 9%, salaries of 60,000 and P100,000 to Rajon and Rondo, respectively, a bonus to Rajon of 25% of Net income after interest, salaries and bonus, and the balance equally.
3. Interest at 10% on the amount by which the ending capital balance exceeds the beginning balance and the balance equally.
4. Salaries of P80,000 and P120,000 to Rajon and Rondo, respectively, a bonus to Rajon of 25% of net income after salaries but before bonus, and the balance equally (the partnership is subject to 30% tax).
|
Provide a two page summary that combines coverage of course
: Provide a two page summary that combines coverage of course concepts put forth in the chapter with topical coverage in the article selected.
|
|
Effect on the business viability
: Your friend has a plan of starting her own business. "A Gym focused on young children."
|
|
Basics of operating a personal computer
: Your friend is excited by the idea of starting her own business "A service to teach people the basics of operating a personal computer".
|
|
Plagiarism accusation over a cyber-safety
: Plagiarism is a very serious matter, not just at CUNY SPS, but well beyond. In mid-2018, Melania Trump was in the news regarding a plagiarism accusation over a
|
|
Prepare a statement of profit distribution
: The income summary account has a credit balance of P450,000. Prepare a statement of profit distribution
|
|
Difference between private bond and government bonds
: What is the difference between a Private Bond and Government Bonds?
|
|
Explain in detail any big five personality
: Explain in detail any THREE (3) BIG Five Personality. How the chosen personality will influence/ predict behaviour at work? Provide an example for each of the p
|
|
Importance on areas of the swot analysis
: Do you think organizations differ from each other when placing importance on areas of the SWOT analysis?
|
|
What must be the amount of net income
: The average capital of the partners are as follows: Theresa, 450,000; Ursula, 500,000 and Vanessa, 350,000. What must be the amount of net income
|