CABLES General Professional Partnership, a business formed by Carlo and Jamie, have thefollowing data in its books:ICarlo, CapitalFeb 28P50,000 Jan 1 Balance.P300,000June 120,000Oct 175,000P345,000Jamie, CapitalAug 12,000 Jan 1 BalanceNov 110,000 May 1Dec 15,000Carlo, DrawingJan 1-Dec 3120,000Jamie, Drawing30,000Jan 1-Dec 31Income SummaryDec 31How much is the peso month average capital of Carlo?P410,00025,000P418,000P750,000

Given that, Carlo's capital on ; Jan 1 = P300,000 Additional capital contributed on ; June 1 =…

Answered: ollowing data in its books: 1 Feb 28…

Business

Accounting

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

Section: Chapter Questions

Problem 1Q

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