ollowing data in its books: 1 Feb 28 Carlo, Capital P50,000 Jan 1 Balance. June 1 Oct 1 P300,000 20,000 75,000 P345,000

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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CABLES General Professional Partnership, a business formed by Carlo and Jamie, have the
following data in its books:
I
Carlo, Capital
Feb 28
P50,000 Jan 1 Balance.
P300,000
June 1
20,000
Oct 1
75,000
P345,000
Jamie, Capital
Aug 1
2,000 Jan 1 Balance
Nov 1
10,000 May 1
Dec 1
5,000
Carlo, Drawing
Jan 1-Dec 31
20,000
Jamie, Drawing
30,000
Jan 1-Dec 31
Income Summary
Dec 31
How much is the peso month average capital of Carlo?
P410,000
25,000
P418,000
P750,000
Transcribed Image Text:CABLES General Professional Partnership, a business formed by Carlo and Jamie, have the following data in its books: I Carlo, Capital Feb 28 P50,000 Jan 1 Balance. P300,000 June 1 20,000 Oct 1 75,000 P345,000 Jamie, Capital Aug 1 2,000 Jan 1 Balance Nov 1 10,000 May 1 Dec 1 5,000 Carlo, Drawing Jan 1-Dec 31 20,000 Jamie, Drawing 30,000 Jan 1-Dec 31 Income Summary Dec 31 How much is the peso month average capital of Carlo? P410,000 25,000 P418,000 P750,000
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