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12. Partner A first contributed P20,000 of capital into an existing partnership on February 1, 2020. On June 1, 2020, the partner contributed another P20,000. On September 1, 2020, the partner withdrew P15,000 from the partnership. Withdrawals in excess of P5,000 are charged to the partner's capital account. The partnership's fiscal year end is December 31. The annual weighted-average capital balance is a. P25.000

12. Partner A first contributed P20,000 of capital into an existing partnership on February 1, 2020. On June 1, 2020, the partner contributed another P20,000. On September 1, 2020, the partner withdrew P15,000 from the partnership. Withdrawals in excess of P5,000 are charged to the partner's capital account. The partnership's fiscal year end is December 31. The annual weighted-average capital balance is a. P25.000

Principles of Accounting Volume 1
Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter15: Partnership Accounting
Section: Chapter Questions
Problem 3EA: The partnership of Tasha and Bill shares profits and losses in a 50:50 ratio, and the partners have...
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12. Partner A first contributed P20,000 of capital into an existing partnership on February 1, 2020. On June 1, 2020, the partner contributed another P20,000. On September 1, 2020, the partner withdrew P15,000 from the partnership. Withdrawals in excess of P5,000 are charged to the partner's capital account. The partnership's fiscal year end is December 31. The annual weighted-average capital balance is a. P25,000 b. P26,667 C. P28,334 d. P30,000
Transcribed Image Text:12. Partner A first contributed P20,000 of capital into an existing partnership on February 1, 2020. On June 1, 2020, the partner contributed another P20,000. On September 1, 2020, the partner withdrew P15,000 from the partnership. Withdrawals in excess of P5,000 are charged to the partner's capital account. The partnership's fiscal year end is December 31. The annual weighted-average capital balance is a. P25,000 b. P26,667 C. P28,334 d. P30,000
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