Reference no: EM132494429
Point 1: On Jan. 1, Anatalio, Yecyec, Guzon and Calimpusan formed Butuan Trading Co., a partnership, with contributions as follows: Anatalio, P50,000: Yecyec, P25,000: Guzon, P25,000 and Calimpusan, P20,000. The partnership contract provided that each
partner shall receive a 5% interest on contributed capital, and that Anatalio and Yecyec shall receive salaries of P5,000 and P3,000, respectively.
Point 2: The contract also provided that Guzon shall receive a minimum of P2,500 per annum, and Calimpusan a minimum of P6,000
per annum, which is inclusive of amounts representing interest and share of remaining profits. The balance of the profits
shall be distributed to Anatalio, Yecyec, Guzon and Calimpusan in a ratio 3:3:2:2.
Question 1: What amount must be earned by the partnership, before any charge for interest and salaries, so that Anatalio may receive
an aggregate of P12,500 including interest, salary and share of profits?
a. P32,333
b. P30,667
c. P30,000
d. P16,667
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