Banzon and Borja are partners in B&B Enterprises. Partnership profits and losses are allocated as follows: Salaries - P160,000 and P200,000 to Banzon and Borja, respectively • 10% interest on the beginning capital balances Any remaining profit is divided equally At the beginning of the year, their capital balances are: P360,000 for Banzon and P600,000 for Borja. What portion of the partnership income of P600,000 will be allocated to Banzon?
Banzon and Borja are partners in B&B Enterprises. Partnership profits and losses are allocated as follows: Salaries - P160,000 and P200,000 to Banzon and Borja, respectively • 10% interest on the beginning capital balances Any remaining profit is divided equally At the beginning of the year, their capital balances are: P360,000 for Banzon and P600,000 for Borja. What portion of the partnership income of P600,000 will be allocated to Banzon?
Chapter20: Corporations And Partnerships
Section: Chapter Questions
Problem 55P
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Transcribed Image Text:Banzon and Borja are partners in B&B Enterprises. Partnership profits and losses are
allocated as follows:
Salaries - P160,000 and P200,000 to Banzon and Borja, respectively
• 10% interest on the beginning capital balances
Any remaining profit is divided equally
At the beginning of the year, their capital balances are: P360,000 for Banzon and
P600,000 for Borja. What portion of the partnership income of P600,000 will be
allocated to Banzon?
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