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How much should each partner receive

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Question - Ables had P275, 000 invested during all of 2018; Galang had P200, 000 invested from January 1 to August 31, and he invested another P75, 000 on September 1. If the profit was P800, 000 during 2018, how much should each partner receive under each of the following conditions:

a. Ables and Galang agreed to share profit and losses in a ratio of 60:40.

b. The partners agreed to share profit according to the ratio of their original investments.

c. The partners agreed to share profit on the basis of their average capital balances.

Reference no: EM132497486

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