Partner A had a capital balance on January 1 of P55,000 and made additional quarterly capital contributions for the year of P15,750. During the year, Partner A withdrew P6,000 per month. Partner A's post- closing capital balance on December 31 is P33,600. Partner A's share of the vear's partnership income (loss) is? O A. P12,400 O B. (P12,400)

Partner A had a capital balance on January 1 of P55,000 and made additional quarterly capital contributions for the year of P15,750. During the year, Partner A withdrew P6,000 per month. Partner A's post- closing capital balance on December 31 is P33,600. Partner A's share of the vear's partnership income (loss) is? O A. P12,400 O B. (P12,400)

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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Hw.111.
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