Question

Renato and Samboy are asked by the ABC to handle the marketing of a benefit basketball game. Being avid fans, they readily accepted the offer and formed a joint operation. To achieve an equitable distribution of earnings, they agreed that the partner who finances the purchase tickets shall be entitled to a 20% commission, the partner who makes ticket sales shall be entitled to a 25% commission , and any remainder was to be divided equally. After the game was over, the following information was obtained: Renato purchased tickets worth P26,125; Samboy advanced P4,125 for expenses, and ticket sales made by Renato and Samboy, respectively, were P22,000 and P16,500. How much was Samboy’s share in the net income (loss) of the Joint Operation?

Answer 1

ie, Samboy share = 6600*1/2 = $ 3,30,