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.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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