Ceradoy. Manongsong and Anuran are partners sharing residual profits in the ratio of 3:2:1. The partnership agreement provides for 8% interest on capital and a salary for Manongsong of P80,000 per annum. Profit for 2019 was P840.000 and the year end balances on capital accounts are as follows: Ceradoy. P200.000: Manongsong. P150,000: and anuran, P120.000. What was Anuran's share of residual profits for 2019?

Ceradoy. Manongsong and Anuran are partners sharing residual profits in the ratio of 3:2:1. The partnership agreement provides for 8% interest on capital and a salary for Manongsong of P80,000 per annum. Profit for 2019 was P840.000 and the year end balances on capital accounts are as follows: Ceradoy. P200.000: Manongsong. P150,000: and anuran, P120.000. What was Anuran's share of residual profits for 2019?

Financial Accounting

14th Edition

ISBN:9781305088436

Author:Carl Warren, Jim Reeve, Jonathan Duchac

Publisher:Carl Warren, Jim Reeve, Jonathan Duchac

Chapter12: Accounting For Partnerships And Limited Liability Companies

Section: Chapter Questions

Problem 9E

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Ceradoy, Manongsong, and Anuran are partners sharing residual profits in the ratio of 3:2:1. The partnership agreement provides for 8% interest on capital and a salary for Manongsong of P80,000 per annum. Profit for 2020 was P840,000 amd the year-end balances on partner's capital accounts are as follows: Ceradoy, P200,000; Manongsong, P150,000 and Anuran, P120,00. What was Anuran's share of residual profits for 2020?
Ceradoy, Manongsong and Anuran are partners sharing residual profits in the ratio of 3:2:1, The partnership agreement provides for 8% interest on capital and a salary for Manongsong of P80,000 per annum. Profit for 2019 was P840,000 and the year -end balances on partners' capital accounts are as follows: Ceradoy, P200,000, Manongsong, P150,000 and Anuran, P120,000. What was Anuran's share of the residual profits for 2019? * 5 points a. P120,400 b. P126,670 c. P130,000 d. P140,000
Ceradoy, Manongsong and Anuran are partners sharing residual profits in the ratio of 3:2:1. Thepartnership agreement provides for 8% interest on capital and a salary for Manongsong of P80,000 peranmum. Profit for 2019 was P840,000 and the year end balances on partner’s capital accounts are asfollows: Ceradoy, P2000,000; Manongsong, P150,000 and Anuran, P120,000. What was Anuran’s shareof residual profits for 2019?a. P120,400b. P126,670c. P130,000d. P140,000
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Ceradoy, Manongsong and Anuran are partners sharing residual profits in the ratio of 3:2:1. The partnership agreement provides for 8% interest on capital and a salary for Manongsong of P80,000 per annum. Profit for 2018 was P840,000 and the year-end balances on partners’ capital accounts are as follows: Ceradoy, P200,000; Manongsong, P150,000 and Anuran, P120,000. What was Anuran’s share of residual profits for 2018?
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Ceradoy, Manongsong and Anuran are partners sharing residual profits in the ratio of 3:2:1. The partnership agreement provides for 8% intereston capital and a salary for Manongsong of P80,000 per annum. Profit for 2016 was P840,000 and the year-end balances on partners’ capital accountsare as follows: Ceradoy, P200,000; Manongsong, P150,000 and Anuran, P120,000. What was Anuran’s share in the residual profits for 2016?
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