Fill in the blanks: Problem 4: Sampras and Nadal divide partnership profits and losses on the basis of average capital balances. 1. Sampras had invested P300,000 on January 02, 2019 and P120,000 on April 30, 2019 2. Nadal invested P400,000 on January 02, but withdrew P40,000 on July 01, 2019. Determine the following: 1. The average capital of Sampras is and the average capital of Nadal is 2. Distribute the profit of P150,000 for the first year of 2019 based on the average capital: a. Sampras share on profit is b. Nadal share on profit is

Fill in the blanks: Problem 4: Sampras and Nadal divide partnership profits and losses on the basis of average capital balances. 1. Sampras had invested P300,000 on January 02, 2019 and P120,000 on April 30, 2019 2. Nadal invested P400,000 on January 02, but withdrew P40,000 on July 01, 2019. Determine the following: 1. The average capital of Sampras is and the average capital of Nadal is 2. Distribute the profit of P150,000 for the first year of 2019 based on the average capital: a. Sampras share on profit is b. Nadal share on profit is

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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