The document is a quiz with multiple choice questions about distributing partnership profits and losses. It provides details on partnership agreements for different scenarios, including profit sharing ratios, interest on capital balances, salaries, bonuses, and asks questions about individual partner's shares of profits or ending capital balances after distributions.
The document is a quiz with multiple choice questions about distributing partnership profits and losses. It provides details on partnership agreements for different scenarios, including profit sharing ratios, interest on capital balances, salaries, bonuses, and asks questions about individual partner's shares of profits or ending capital balances after distributions.
The document is a quiz with multiple choice questions about distributing partnership profits and losses. It provides details on partnership agreements for different scenarios, including profit sharing ratios, interest on capital balances, salaries, bonuses, and asks questions about individual partner's shares of profits or ending capital balances after distributions.
No. 2 Distribution of Profits and Losses Points: 0/10 1.Student Name (Format: Last Name, First Name, Middle Initial)
2.Year and Section
BSA 1A BSA 1B BSA 1C BSA 1D
Quiz Proper. Multiple Choice. Select the best answer.
Good luck! Select the best answer. Incorrect 0/2 Points 3.For the year ended 2021, the partnership of Arnel, Brent, Charles and David made P1,000,000 profit. The agreement provides for 10% interest on average capital balances; monthly salary P15,000 for each partner; 10% bonus before interest, salary and bonus to Arnel; and any remaining profit is to be divided in the ratio 2::2:3:3. The average capital during the year are P100,000; P250,000; P350,000; P300,000, respectively. How much is Arnel's share in the partnership profits? P240,200 P260,200 P276,800 P306,000 None of the above Incorrect 0/2 Points 4.For the year ended 2021, the partnership of Arnel, Brent, Charles and David made P1,000,000 profit. The agreement provides for 10% interest on ending capital balances; monthly salary P15,000 for each partner; 10% bonus before interest, salary and bonus to Arnel; and any remaining profit is to be divided in the ratio 2::2:3:3. The ending capital during the year are P100,000; P250,000; P350,000; P300,000, respectively. What is Brent's ending capital after distribution of profits? P406,000 P441,200 P471,000 P487,400 None of the above Incorrect 0/2 Points 5.For the year ended 2021, the partnership of Anne, Bea, Carla and Diane made P1,000,000 profit. The agreement provides for 10% interest on average capital balances; monthly salary P15,000 for each partner; 10% bonus before interest, salary and bonus to Anne; and any remaining profit is to be divided in the ratio 2::2:3:3. The average capital during the year are P100,000; P250,000; P350,000; P300,000, respectively, while the ending capital balances are P150,000; P200,000; P400,000; P250,000, respectively. What is Carla's ending capital after distribution of profits? P589,000 P639,000 P663,600 P676,800 None of the above Incorrect 0/2 Points 6.For the year ended 2021, the partnership of Anne, Bea, Carla and Diane made P300,000 loss. The agreement provides for 10% interest on average capital balances; monthly salary P15,000 for each partner; 10% bonus before interest, salary and bonus to Anne; and any remaining profit is to be divided in the ratio 2::2:3:3. The average capital during the year are P100,000; P250,000; P350,000; P300,000, respectively, while the ending capital balances are P150,000; P200,000; P400,000; P250,000, respectively. What is Diane's ending capital after distribution of loss? P124,000 P157,000 P174,000 P184,000 None of the above Incorrect 0/2 Points 7.For the year ended 2021, the partnership of Anne, Bea, Carla and Diane made P300,000 loss. The agreement provides for 10% interest on average capital balances; monthly salary P15,000 for each partner; 10% bonus after salary, before interest and bonus to Anne; and any remaining profit is to be divided in the ratio 2::2:3:3. The average capital during the year are P100,000; P250,000; P350,000; P300,000, respectively, while the ending capital balances are P150,000; P200,000; P400,000; P250,000, respectively. What is Anne's ending capital after distribution of loss? P 66,000 P116,000 P124,000 P174,000 None of the above This content is created by the owner of the form. The data you submit will be sent to the form owner. Microsoft is not responsible for the privacy or security practices of its customers, including those of this form owner. Never give out your password.