Take home assignment

1. Agta, Bibi and Coca are partners and they agreed to divide
profits and losses in the following proportions.
Agta- 40%, Bibi- 30% and Coca 30%
a. If there is a profit or losses of 100,000, what and how
much will be their respective participation?
b. If A contributed P 50,000, B -25,000 and C- 25,000, and
there is no stipulation as to the share in the profits and
loss, what and how much will be their participation?

2. Nene, Jojo and Gabby are partners. Their contributions are

as follows: Nene -60,000, Jojo -40,000 and Gabby-services.
The partners did not agree on how to divide the profits and
losses. If there is a loss of P 10,000, how should the loss of P
10,000 be distributed to the partners.

3. Bruhilda, Supladita and Antipatika were partners. Bruhilda is

an industrial partner. During the first operation, the firm
realized a profit of P 60,000. During the second year, the firm
sustained a loss of P 30,000. So the profits for the two years
operation was only P 30,000. In the articles of partnership, it
was agreed that Bruhilda, the industrial partner would get
 the profit of 1/3 but would not share in the losses. How much
will Bruhilda, the industrial partner get?

4. Gibo and Edu are partners with Gibo as the managing

partner. Noynoy is indebted to Gibo in the amount of P
100,000 secured with a pledge and to the partnership in the
amount of P 50,000 without interest. Both debts are due and
demandable. Nonoy paid Gibo P 30,000 and the latter issued
a receipt in his name.
a. Is the action of Gibo proper in issuing a receipt in his
name? Why?
b. What rules will govern the given example? Enumerate or
discuss the same

5. A, B, C and D are partners. Their contributions are as follows:

A, P 50,000; B, P 30,000; C, P 20,000 D, services. The partnership
incurred obligations to third persons, which the firm was
unable to pay. After exhausting the assets of the partnership,
there still is unpaid balance of P 10,000. Who are liable for the
payment of the unpaid balance of P 10,000? How much each?