User Account

All Pages

How much profit share will G receive

Assignment Help Financial Accounting
Reference no: EM132713289

Problem 1: S and G share profits in the ratio 3:2. However, S is to receive a bonus of 20% of the profits, in additional to his profit share. The partnership made a profit for the year of P24,000 before the bonus. Assuming S bonus is computed on profit after deducting the said bonus, how much profit share will G receive?

a. P15,200
b. P8,000
c. P9,600
d. P9,000

Reference no: EM132713289

Questions Cloud

What amount should h capital account change : The partnership sustained a P33,000 loss before the interest and salaries to partners. By what amount should H's capital account change?
How much should be allocated to A : 1/3 of any remaining profit is allocated to A and the balance to D. If the partnership had profit of P102,500, how much should be allocated to A?
Find What amount should H capital account change : The partnership sustained a P33,000 loss before the interest and salaries to partners. By what amount should H's capital account change?
How much should be allocated to E : If the profit is P102,500, how much should be allocated to E? E and C have the following profit and loss agreement: salaries of P30,000 and P45,000
How much profit share will G receive : S and G share profits in the ratio 3:2. Assuming S bonus is computed on profit after deducting the said bonus, how much profit share will G receive?
What the partners share should be : R and F are partners agreeing to allow monthly salaries of P6,000 and P5,000.The first year registered a profit of P100,000. What the partners' share should be?
What amount of interest that should eventually be credited : The partnership agreement of S and G provided, What the amount of interest that should eventually be credited to G capital is?
What amount should U capital account change : In 2019, the firm sustained a P99,000 loss before interest and salaries to partners. By what amount should U's capital account change?
Cost and Quality Management Plans : How do you define quality in a project? Describe tools/techniques you think are a necessity for planning a project's quality management

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd