and Blue will contribute cash. If Blue want a one- third interest in the capital and profits, how much total partnership capital would be? *
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- 81. Red, White, and Blue form a partnership on May 1,2013. They agree that Red will contribute office equipment with a total fair value of P40,000; White will contribute delivery equipment with a fair value of P80,000; and Blue will contribute cash. If Blue wants a one third interest in the capital and profits, he should contribute cash of: * O A. P40,000 O B. P120,000 О С. Рб0,000 O D. P180,000A, B and C decided to form a partnership on March 1, 2022. They agree that A will contribute office equipment with a total fair value of P40,000; B will contribute delivery equipment with a fair value of P80,000; and C will contribute cash. If C wants a one- third interest in the capital and profits, he should contribute the cash amounting to:On January 1, 2022, A, B, C are new lawyers and agreed to form a partnership. . A is to contribute cash of P150,000 and his computer originally costing P160,000 but has a fair value of P125,000. . B is to contribute cash of P180,000. . C is to contribute vehicle costing P400,000 with a fair value of P420,000. Partners agreed to share profits equally. Additional investments made were P80,000 by A and P100,000 by C. Withdrawals: Each partner is allowed to withdraw up amount from the business each year. During the year, Partnership incurs a loss of P60,000. Compute for the A's ending capital balance. to P60,000 per year. Assume further that each partner withdrew the maximum
- In the January 1, 2020 Kalaw and Borromeo formed partnership with each contributing the following: Kalaw Borromeo Cash 50,000 70,000 Equipments 50,000 75,000 Building 225,000 Furniture 10,000 Accounts payable 20,000 Loans Payable 100,000 All liabilities are to be assumed by the partnership. The partners agreed the equipments should be provided a 20% depreciation and the building has a market value of 200,000. The value of the furniture should be decreased by P2,000 There is an unrecorded liability in the books of Kalaw amounting to P2,000 and accrued interest on loans to Borromeo amounting to 5% of the loans. How much is the total capital of the partners before the agreed adjustments. Problem 1A and B formed a partnership on January 1, 2020. Their capital contributions were as follows:A, Capital P 100,000B, Capital 200,000__________P 300,000=========The partnership earned profit of P1,200,000. There was no stipulation in the partnership agreement on how profits are to be shared by the partners.Requirement: Compute for the respective shares of the partners in the profit.The partnership reports profits of P80,000, net of P20,000 salaries and P30,000 interest and a bonus. The bonus is computed as 20% of profits after salaries and interest. Compute the amount of the bonus. Show your solution. a. P16,000 b. P20,000 c. P26,000 d. P32,500
- X and Y are partners sharing profits 6:4, respectively. Capital accounts as of October are 1, 2021 X-P 560,000, Y-P 480,000 They agree to admit Z as a new partner with an investment of P260,000 for a interest in the partnership and that the assets are fairly valued, what would be the capital of Y after the admission of Z? A.P 480,000 B.P 506,000 C.P 454,000 D. P325,000Problem II. GI-HUN, SANG-WOO and SAE-BYEOK are partners of Push-it Partnership. Their capital balances are GI-HUN - P300, SANG-WOO P180 and SAE-BYEOK-P140. The following are their agreement in their profit sharing: 25% bonus to GI-HUN based on profit after deducting the said bonus.. SANG-WOO and SAE-BYEOK will be given 10% interest each on their capital balances. The remaining profits will be shared in the ratio of 3:3:2 for GI-HUN, SANG-WOO and SAE-BYEOK respectively. 7. How much will be the income (loss) if the share of SANG-WOO is P15?Problem II. GI-HUN, SANG-WOO and SAE-BYEOK are partners of Push-it Partnership. Their capital balances are GI-HUN - P300, SANG-WOO P180 and SAE-BYEOK-P140. The following are their agreement in their profit sharing: 25% bonus to GI-HUN based on profit after deducting the said bonus.. SANG-WOO and SAE-BYEOK will be given 10% interest each on their capital balances. The remaining profits will be shared in the ratio of 3:3:2 for GI-HUN, SANG-WOO and SAE-BYEOK respectively. 8. How much will be the income (loss) if the share of SAE-BYEOK is P2?
- Problem II. GI-HUN, SANG-WOO and SAE-BYEOK are partners of Push-it Partnership. Their capital balances are GI-HUN - P300, SANG-WOO P180 and SAE-BYEOK-P140. The following are their agreement in their profit sharing: 25% bonus to GI-HUN based on profit after deducting the said bonus.. SANG-WOO and SAE-BYEOK will be given 10% interest each on their capital balances. The remaining profits will be shared in the ratio of 3:3:2 for GI-HUN, SANG-WOO and SAE-BYEOK respectively. 5. How much is the profit share of GI-HUN if the profit is P330?Problem II. GI-HUN, SANG-WOO and SAE-BYEOK are partners of Push-it Partnership. Their capital balances are GI-HUN - P300, SANG-WOO P180 and SAE-BYEOK-P140. The following are their agreement in their profit sharing: 25% bonus to GI-HUN based on profit after deducting the said bonus.. SANG-WOO and SAE-BYEOK will be given 10% interest each on their capital balances. The remaining profits will be shared in the ratio of 3:3:2 for GI-HUN, SANG-WOO and SAE-BYEOK respectively. 6. How much will be the income (loss) if the share of GI-HUN is P48?GWS and BCP organized the GB Partnership on January 1, 2018. The following entries were made in their capital accounts during 2018. Debit Credit GWS, Capital: January 1 April 1 October 1 P315,000 P105,000 175,000 Debit Credit ВСР, Саpital: January 1 March P413,000 1 September 1 November 1 52,500 105,000 94,500 Required: А. If the partnership profit for the year 2018 computed before salaries or interest is P217,000, determine its distribution between the partners under each of the following independent profit-sharing agreements: (1) Interest at 6% is allowed on average capital investments and the remainder of the profit is divided equally. (2) A salary of P126,000 is to be credited to BCP, 6% interest is allowed on each partner on his ending capital balance and the remainder of the profit in the ratio of 3:2. Salaries are allowed GWS and BCP in amounts of P119,000 and P133,000, respectively, and the remaining profit or resulting loss is divided in the ratio of average capital balance.…