7. A&B Partnership eams profit of P240,000 in 20x1. The movements in the capital accounts of the partners are shown below: A, capital Dr. Cr. B, capital Dr. Cr. Jan. 1 May 1 July 1 Aug 1 120,000...

7. Under Millan book. This is not a part of our exam but is included in the reference book and I want to review its answer.

7. A&B Partnership eams profit of P240,000 in 20x1. The<br>movements in the capital accounts of the partners are shown<br>below:<br>A, capital<br>Dr.<br>Cr.<br>B, capital<br>Dr.<br>Cr.<br>Jan. 1<br>May 1<br>July 1<br>Aug 1<br>120,000<br>80,000<br>20,000<br>10,000<br>20,000<br>10,000<br>Oct. 1<br>10,000<br>5,000<br>How much is the share of A if profits are to be divided based on<br>average capital?<br>a 108,333<br>c. 103,457<br>d. 136,543<br>b. 121,500<br>

Extracted text: 7. A&B Partnership eams profit of P240,000 in 20x1. The movements in the capital accounts of the partners are shown below: A, capital Dr. Cr. B, capital Dr. Cr. Jan. 1 May 1 July 1 Aug 1 120,000 80,000 20,000 10,000 20,000 10,000 Oct. 1 10,000 5,000 How much is the share of A if profits are to be divided based on average capital? a 108,333 c. 103,457 d. 136,543 b. 121,500

Jun 10, 2022

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7. A&B Partnership eams profit of P240,000 in 20x1. The movements in the capital accounts of the partners are shown below: A, capital Dr. Cr. B, capital Dr. Cr. Jan. 1 May 1 July 1 Aug 1 120,000...

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