question archive Elisa Diaz and Mary Manalo formed a partnership investing P330, 000 and P110, 000, respectively
Elisa Diaz and Mary Manalo formed a partnership investing P330, 000 and P110, 000, respectively
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Elisa Diaz and Mary Manalo formed a partnership investing P330, 000 and P110, 000, respectively. Determine the partners' participation in the 2018 profit of P420, 000 under each of the following independent asssumptons:
a. No agreement concerning division of profit.
b. Divided in the ratio of original investment.
c. Salary allowances of P50, 000 and P70, 000, respectively and the balance to be divided equally.
Option 1
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