60.1K

Verified Solution

Link Copied!

1. Compute the profit allocated to the capital accounts of Bon and Bella under the ff assumption: Interest at 8% is allowed on average capital and the balance of profit is 6:4 ratio. How much profit share is allocated to Bon?

2. Compute the profit allocated to the capital accounts of Bon and Bella under the ff assumption: Salaries of P60,000 and P50,000 are allowed to Bon and Bella, respectively, and the balance of profit is divided in the ratio of capital balances at the end of the period. How much profit share is allocated to Bella?

3. Compute the profit allocated to the capital accounts of Bon and Bella under the ff assumption: Bon is allowed a bonus of 1/3% of profit after bonus and the balance of the profit is divided in the ratio of the beginning capital. How much profit share is allocated to Bella

4. How much is the profit allocated to the capital accounts of Bon and Bella, respectively under the ff assumption: profit is divided 60% to Bon and 40% to Bella.

5. How much is the profit allocated to the capital accounts of Bon and Bella, respectively under the ff assumption: profit is divided in the ratio of capital balances at the beginning of the period.

10. The capital accounts of Bon and Bella at the end of fiscal year 2021 are as follows: Bon, capital Bella, cap Jan 1 Bal. P212,000 P140,000 May 1 Investment 95,000 Oct 1 Withdrawal (60,000) (30,000) The partnership profit for the year ended Dec 31, 2021 is P320,000. compute the average capital of Bon and Bella? (note the answer should be - no P, no comma and no decimal points)

Answer & Explanation Solved by verified expert

See Answer