5. AA, BB and CC are partners with average capital balances during 20xx of P472,500, P238,650 and P162,350, respectively. The partners receive 10% interest on their average capital balances; after deducting salaries of P122,325 to AA and P82,625 to CC, the residual profits or loss is divided equally. In 20xx, the partnership had a net loss of P125,624 before the interest and salaries to partners. By what amount should AA's and CC's capital account change - increase (decrease)? А AA CC P(40,844) P28 358 P 31,235 P 32 458 а. Р30,267 P (40,448) C. P29 476 P17 536 d.
5. AA, BB and CC are partners with average capital balances during 20xx of P472,500, P238,650 and P162,350, respectively. The partners receive 10% interest on their average capital balances; after deducting salaries of P122,325 to AA and P82,625 to CC, the residual profits or loss is divided equally. In 20xx, the partnership had a net loss of P125,624 before the interest and salaries to partners. By what amount should AA's and CC's capital account change - increase (decrease)? А AA CC P(40,844) P28 358 P 31,235 P 32 458 а. Р30,267 P (40,448) C. P29 476 P17 536 d.
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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Transcribed Image Text:AA, BB and CC are partners with average capital balances during 20xx of P472,500,
P238,650 and P162,350, respectively. The partners receive 10% interest on their
average capital balances; after deducting salaries of P122,325 to AA and P82,625 to CC,
5.
the residual profits or loss is divided equally.
In 20xx, the partnership had a net loss of P125,624 before the interest and salaries to
partners.
By what amount should AA's and CC's capital account change - increase (decrease)?
AA
CC
AA
CC
Р 31,235
P 32,458
P30,267
P (40,448)
P(40,844)
а.
c.
b. P29,476 P17,536
d. P28,358
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