Hi I need on what is the answer for this accounting problem

Hi I need on what is the answer for this accounting problem. Below is the pictures and the reference to . I hope you can me https://drive.google.com/drive/folders/1d_SOeDa1Z66eCS0MvUSTNCWlRlFVxUSH?usp=sharing Transcribed Image Text: PROBLEM ON PARTNERSHIP OPERATION:
ARAY KHO PO are partners, Their Capital accounts for 2019 are the following:
ARAY
кно
PO
P 70,000
Jann 1 Beginning Balances
Mar 1 Withdrawal
Mar 1 Investment
April 30 Investment
May 1 Investment
June 30 Investment
July 30 Withdrawal
Aug 30 withdrawal
Sept 30 investment
Sept 30 investment
Oct 30 investment
Nov 30 withdrawal
P 80,000
(10,000)
P 50,000
25,000
20,000
50,000
10,000
(20,000)
(15,000)
25,000
50,000
50,000
(5,000) Transcribed Image Text: For each of the following independent income
sharing agreements, prepare an income distribution
schedule.
a) Agreement:
= Salaries:
ARAY P20,000
кно 25,000
PO
22,000
– KHO will receive a bonus 10% of NET INCOME
AFTER DEDUCTING HIS BONUS
= Interest is 15% of ending capital balances
= Remainder will be 7:7:6
= NET INCOME = P169780
b) Agreement:
= KHO receives a bonus of 20% of NET INCOME
AFTER DEDUCTING THE BONUS AND SALARY
= Remainder : Equally
= Interest, 15% of ACB
= Salaries:
ARAY P 20,000
кно
15,000
20,000
PO
NET INCOME = p180,000
c) Agreement:
= PO bonus 25% of NET INCOME AFTER DEDUCTING
THE BONUS AND THE SALARIES
= Salaries:
ARAY P30,000
кно
20,000
25,000
PO
= NET INCOME P150,000
= Interest 10% of Beginning Capital
= Remainder : 4:4:3

-25-


Buy plagiarism free, original and professional custom paper online now at a cheaper price. Submit your order proudly with us



Essay Hope