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How much is C share in the income

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Reference no: EM133107930

Question 1 - If the net income is P200,000, salaries given to partners amount to 60,000, interest to partners' capital amount to 40,000 and bonus is 20% of net income after salaries, interest, and bonus, how much is the bonus?

Question 2 - The net income of a ABC partnership for the year is P100.000. Partner A is to be given a salary of 5,000 per month. The capital balances of A, B and Care P 150:000, P160.000, and P140,000, respectively. Interest in the capital balance will be given at a rate of 15%. Bonus of 10% after salaries and interest is given to partner C. Remaining profit is to be distributed equally to the partners. How much is C's share in the income?

Reference no: EM133107930

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