Problem #12 Distribution of Profits or Losses Based On Partners' Agreement
Problem #12 Distribution of Profits or Losses Based On Partners' Agreement
Problem #12 Distribution of Profits or Losses Based On Partners' Agreement
Modesto, Resultay, and Laguna are partners in MRL Company, with average capital balances for the year of P300000,
P400000, and P200000, respectively. They share remaining profits and losses in a 2:5:3 ratio, respectively, after each
receives a P150000 salary and 10% interest on his average capital balances.
Required:
1. Profit of P740000
2. Profit of P140000
3. Loss of P60000