# CALAMBA AND BRILLANTES PROBLEM-OBLIGA SHAIRA MAE.docx -...

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FUNDAMENTALS OF ACCOUNTANCY, BUSINESS AND MANAGEMENTShaira Mae ObligaBSA – 4thYearStephanie Calamba and Allan Brillantes decided to form a partnership. They agreed thatCalamba will invest P200000 and Brillantes, P300000. Calamba will devote full time to thebusiness, an Brillantes on part-time only. The following plans for the division of profits are beingconsidered:a. Equal division.b. In the ratio of original investment.c. In the ratio of time devoted to the business.d. Interest of 10% on original investments and the remainder in the ratio of 3:2.e. Interest of 10% on original investments, salary allowances of P340000 to Calamba andP170000 to Brillantes, andthe remainder equally.f. Plan (e), except that Calamba is also to be allowed a bonus equal to 20% of the amount bywhich profit exceedsthe salary allowances.
Required:Determine the partners’ share in the profit or loss for each of the situations above assuming(a)profit of P1500000 and(2) profit of P660000.
FUNDAMENTALS OF ACCOUNTANCY, BUSINESS AND MANAGEMENTSalary340,000170,000510,000Remainder 1:1470,000470,000940,000Total Profit830,000670,0001,500,000f.Interest 10%20,00030,00050,000Salary340,000170,000510,000Bonus 20%
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Term
Summer
Professor
Jane Smith
Tags
Ratio, Stephanie Calamba, following plans, ratio of original investment