P 76,250. Profits and losses are divided using the ratio of the partners'average capital.14. How much was the capital balance of Capri on December 31, 200B?C. P 64,500.a. P 55,900.b. P 59,500.d. P 65,100. Item No. 14 is based on the following information:Capri and Corn had capital balances of P 20,000 and P 40,000, respectively onJänuary 1, 200B. On July 1, Capri made an additional investment of P 12,000 andon August 1, Corn withdrew P 12,000 of his capital. On December 31, thepartners' drawing accounts showed debit balances of P 5,000 and P 3,000 forCapri and Corn, respectively. The profit during the year was

Partnership is one of the agreement or arrangement between two or more than two persons in which…

P 76,250. Profits and losses are divided using the ratio of the partners' average capital. 14. How much was the capital balance of Capri on December 31, 200B? a. P 55,900. c. P 64,500. b. P 59,500. d. P 65,100.

P 76,250. Profits and losses are divided using the ratio of the partners' average capital. 14. How much was the capital balance of Capri on December 31, 200B? a. P 55,900. c. P 64,500. b. P 59,500. d. P 65,100.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

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Question

P 76,250. Profits and losses are divided using the ratio of the partners'
average capital.
14. How much was the capital balance of Capri on December 31, 200B?
C. P 64,500.
a. P 55,900.
b. P 59,500.
d. P 65,100.

Item No. 14 is based on the following information:
Capri and Corn had capital balances of P 20,000 and P 40,000, respectively on
Jänuary 1, 200B. On July 1, Capri made an additional investment of P 12,000 and
on August 1, Corn withdrew P 12,000 of his capital. On December 31, the
partners' drawing accounts showed debit balances of P 5,000 and P 3,000 for
Capri and Corn, respectively. The profit during the year was

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