I.

Joshua Scarlett
Salaries 1,250.00 1,250.00
Interest 1,500.00 1,187.50
Bonus
Residual Profit 13,750.00 19,250.00
Total 16,500.00 21,687.50
C) Scarlett's total share in the net income is P21 688.

II.
25%BaftS&B = P97500 + 10%BaftS&B
₱ 97,500.00 = 15%BaftS&B
₱ 97,500.00 = 15%BaftS&B
15% 15%
X = ₱ 650,000.00

Profit after Salaries and Bonus ₱ 650,000.00

Salaries ₱ 450,000.00
Bonus ₱ 162,500.00
Profit before Salaries and Bonus ₱ 1,262,500.00
 Matthew Total
2,500.00
1,062.50 3,750.00
8,250.00 8,250.00
22,000.00 55,000.00
31,312.50 69,500.00

+ 10%BaftS&B
I.
C (30%) P (30%) A (20%)
Interest 50,000.00 25,000.00 25,000.00
Salaries (as expense) 100,000.00 60,000.00
Residual Profit 100,000.00 100,000.00 66,667.00

Total ₱ 250,000.00 ₱ 185,000.00 ₱ 91,667.00

II.
CJ Christine Total
Salaries ₱ 20,500.00 ₱ 14,500.00 ₱ 35,000.00
Interest 12,326.00 11,454.00 23,780.00
Bonus 2,872.00 2,872.00
Residual Profit 11,489.00 7,659.00 19,148.00
Total ₱ 47,187.00 ₱ 33,613.00 ₱ 80,800.00

CJ Christine
Balance, July 1 171,820.00 152,717.00
0.08 0.08
Interest ₱ 12,886.50 ₱ 11,453.78

Profit after salaries

and interest 22,020.00
Bonus % 0.15
Bonus ₱ 19,147.83
S (20%) Total
20,000.00 120,000.00
160,000.00
66,667.00 333,334.00
33,333.00 33,333.00
₱ 120,000.00 ₱ 646,667.00