A summary of changes in the capital accounts of the Rialubin, Rabena and Dela Cruz partnership for 2019, before closing, follows: Rialubin Rabena Dela Cruz Total P 80,000 P 80,000 P 90,000 Balance, Jan. 1,2019 Investment, Apr.1 Withdrawal, May 1 Withdrawal, July1 Withdrawal, Sept. 1 P 250,000 20,000 20,000 (15,000) (15,000) (10,000) (10,000) P 65,000 (30,000) P 60,000 (30,000) P 215,000 P 90,000 Required: Determine the allocation of the 2019 profit to the partners under each of the following

A summary of changes in the capital accounts of the Rialubin, Rabena and Dela Cruz partnership for 2019, before closing, follows: Rialubin Rabena Dela Cruz Total P 80,000 P 80,000 P 90,000 Balance, Jan. 1,2019 Investment, Apr.1 Withdrawal, May 1 Withdrawal, July1 Withdrawal, Sept. 1 P 250,000 20,000 20,000 (15,000) (15,000) (10,000) (10,000) P 65,000 (30,000) P 60,000 (30,000) P 215,000 P 90,000 Required: Determine the allocation of the 2019 profit to the partners under each of the following

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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