Question

X, Y and Z are partners with X contributing P60,000 ,Y P40,000 and Z service. They agreed to divide the profits and losses in the following proportions: X, 35% Y,25% Z, 40%. If the partnership incurred a loss of P10,000, how should that loss be shared by the partners?

a. X P6,000; Y P4,000; Nothing
b. X P3,500; Y P2,500; Z P4,000
c. X P5,000; Y P3,500; Z P2,000
d. X P4,500; Y P3,000; Z P2,500

Answer 1

To share the loss of P10,000 among the partners in the agreed proportions, X should contribute P3,500, Y should contribute P2,500, and Z should contribute P4,000.

Step-by-step explanation:

To share the loss of P10,000 among the partners in the agreed proportions, we need to calculate the amount each partner should contribute based on their agreed share.

First, let's calculate the total agreed share: X's share is 35%, Y's share is 25%, and Z's share is 40%. Therefore, the total share is 35% + 25% + 40% = 100%.

Next, let's calculate the amount each partner should contribute to cover the loss. For X, the contribution will be: 35% of P10,000 = P3,500. For Y, the contribution will be: 25% of P10,000 = P2,500. For Z, the contribution will be: 40% of P10,000 = P4,000.

So the correct answer is option b. X should contribute P3,500, Y should contribute P2,500, and Z should contribute P4,000.

Learn more about Sharing losses in a partnership here: