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What will be the distribution of income to adan

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Reference no: EM132893602

Partners Adan and Eba have capital balances in a partnership of P400,000 and P600,000, respectively. They agree to share profits and losses as follows:

                                                                                                Adan                  Eba
As salaries                                                           P100,000           P120,000
As interest on capital at the beginning of the year         10%                 10 %
Remaining profits or losses                                        50%                    50%

Problem a. If income for the year was P500,000, what will be the distribution of income to Eba?

Problem b. If income for the year was P300,000, what will be the distribution of income to Adan?

Problem c. If net loss for the year was P20,000, what will be the distribution to Eba?

Reference no: EM132893602

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