A. B and C are partners with average capital balances during 2020 of P945,000, P477,300 and P324,700, respectively. The partners receive 10% interest on their average capital balances, salaries of P 244,650 to A and P 165,250 to C, any residual profit or loss is divided in the ratio 3:2:1. In 2020, the partnership had a net loss of P251,248 before the interest and salaries to partners. What is the change in the capital balance of

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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A. B and C are partners with average capital balances during 2020 of P945,000, P477,300 and P324,700, respectively. The partners receive 10% interest on their average capital balances, salaries of P 244,650 to A and P 165,250 to C, any residual profit or loss is divided in the ratio 3:2:1. In 2020, the partnership had a net loss of P251,248 before the interest and salaries to partners. What is the change in the capital balance of
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