Solution-What amount will ana receive if the net income

What amount will ana receive if the net income earned

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Reference no: EM132935600

The partners of Triple A Partnership are Adah, Ana and Ara. During the current year, their average capital balances are as follows: Adah - P 180,000; Ana - P160,000; Ara - P 150,000.

The articles of partnership provided the following terms:

1. Annual interest of 8% on their average capital balances.

2. Salary allowances as follows: Adah - P 50,000 and Ana - P 80,000.

3. Ana shall receive bonus of 15% of income in excess of P40,000 after partner's interest and salary allowances.

4. Residual profits shall be divided in the ratio of 2:2:6 to Adah, Ana and Ara.

Problem 1: What amount will Ana receive if the net income earned is P 470,000?

Reference no: EM132935600

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What amount will ana receive if the net income earned

Reference no: EM132935600

Reference no: EM132935600

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