A, B, and C are partners with average capital balances during 2016 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 A and P82,625 to C the residual profits or loss is divided equally. In 2016, the partnership had a net loss of P125,624 before the interest and salaries to partners. By what amount should A's and C's capital account change- increase (decrease)? A A c.(P 40,844) d. P28,358 C P31,325 P32.458 P 30,267 (P40,448) P 17,536 a. b. P 29,476
A, B, and C are partners with average capital balances during 2016 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 A and P82,625 to C the residual profits or loss is divided equally. In 2016, the partnership had a net loss of P125,624 before the interest and salaries to partners. By what amount should A's and C's capital account change- increase (decrease)? A A c.(P 40,844) d. P28,358 C P31,325 P32.458 P 30,267 (P40,448) P 17,536 a. b. P 29,476
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:A, B, and C are partners with average capital balances during 2016 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 A and P82,625 to C the residual profits or loss is divided
equally.
In 2016, the partnership had a net loss of P125,624 before the interest and salaries to partners. By what amount should A's and C's capital
account change- increase (decrease)?
A
A
c.(P 40,844)
d. P28,358
C
P31,325
P32,458
a.
P 30,267
(P40,448)
P 17,536
b.
P 29,476
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