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If profits and losses shall be based on ratio of simple average capital balance how should the profit be distributed between Julian and Felipe? a. Julian, P258,333; Felipe, P141,667 b. Julian, P241,667; Felipe, P158,333 c. Julian, P250,000; Felipe, P150,000 d. Not given 5. If profits and losses shal! be based on ratio of weighted average capital balances how should the profit be distributed between Julian and Felipe? a. Julian, P288,889; Felipe, Pl 11,111 b. Julian, P267,606; Felipe, P132,394 c. Julian, P244,444; Felipe, PI55,556 d. Not given

If profits and losses shall be based on ratio of simple average capital balance how should the profit be distributed between Julian and Felipe? a. Julian, P258,333; Felipe, P141,667 b. Julian, P241,667; Felipe, P158,333 c. Julian, P250,000; Felipe, P150,000 d. Not given 5. If profits and losses shal! be based on ratio of weighted average capital balances how should the profit be distributed between Julian and Felipe? a. Julian, P288,889; Felipe, Pl 11,111 b. Julian, P267,606; Felipe, P132,394 c. Julian, P244,444; Felipe, PI55,556 d. Not given

SWFT Comprehensive Vol 2020
SWFT Comprehensive Vol 2020
43rd Edition
ISBN:9780357391723
Author:Maloney
Publisher:Maloney
Chapter21: Partnerships
Section: Chapter Questions
Problem 2BCRQ
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Hi! This topic is about Partnership Dissolution.

 

The number 4 and 5 are my questions. choose the letter of answer. Thank you!!!

Julian and Felipe are partners in Mabuhay Music Philippines, a partnership engaged in music recording. Two years ago, the original investment of Julian imn the partnership was P700,000 while the original investment of Felipe was P500,000. The records of Partners' Capital, Partner's Drawing and Income and Expense Summary for the year 20x2 are presented below: JULIAN, CAPITAL 100,000 lan 1 Sep 1 FELIPE, CAPITAL 50,000 Jan 1 Mar 1 400,000 100,000 Mar 1 800,000 50,000 Sep 1 JULUAN, DRAWING FELIPE, DRAWING Jan - Dec 50, 000 Jan - Dec 50,000 INCOME AND EXPENSE SUMMARY 400,000 Dec 31
Transcribed Image Text:Julian and Felipe are partners in Mabuhay Music Philippines, a partnership engaged in music recording. Two years ago, the original investment of Julian imn the partnership was P700,000 while the original investment of Felipe was P500,000. The records of Partners' Capital, Partner's Drawing and Income and Expense Summary for the year 20x2 are presented below: JULIAN, CAPITAL 100,000 lan 1 Sep 1 FELIPE, CAPITAL 50,000 Jan 1 Mar 1 400,000 100,000 Mar 1 800,000 50,000 Sep 1 JULUAN, DRAWING FELIPE, DRAWING Jan - Dec 50, 000 Jan - Dec 50,000 INCOME AND EXPENSE SUMMARY 400,000 Dec 31
4. If profits and losses shall be based on ratio of simple average capital balance how should the profit be distributed between Julian and Felipe? a. Julian, P258,333; Felipe, P141,667 b. Julian, P241,667; Felipe, P158,333 c. Julian, P250,000; Felipe, P150,000 d. Not given 5. If profits and losses shal! be based on ratio of weighted average capital balances how should the profit be distributed between Julian and Felipe? a. Julian, P288,889; Felipe, PI11,111 b. Julian, P267,606; Felipe, P132,394 c. Julian, P244,444; Felipe, P155,556 d. Not given
Transcribed Image Text:4. If profits and losses shall be based on ratio of simple average capital balance how should the profit be distributed between Julian and Felipe? a. Julian, P258,333; Felipe, P141,667 b. Julian, P241,667; Felipe, P158,333 c. Julian, P250,000; Felipe, P150,000 d. Not given 5. If profits and losses shal! be based on ratio of weighted average capital balances how should the profit be distributed between Julian and Felipe? a. Julian, P288,889; Felipe, PI11,111 b. Julian, P267,606; Felipe, P132,394 c. Julian, P244,444; Felipe, P155,556 d. Not given
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