A. B and C are partners with average capital balances during 2020 of P945,000, P477,300 and P324,700, respectively. The partners receive 10% interest on their average capital balances, salaries of P 244,650 to A and P 165,250 to C, any residual profit or loss is divided in the ratio 3:2:1. In 2020, the partnership had a net loss of P251,248 before the interest and salaries to partners. What is the change in the capital balance of

The average partnership capital balance in 2017, A is $100,000, B is $55,000 and C is $30,000. Allies get 5% of their average capital balance. After deducting the salary for A of $20,000, and for B of $10,000, the remaining profit and loss is divided equally. But in 2017 partnership A, B, and C suffered a loss of $22,000 before deducting interest and salaries for partners. What is the change in capital A?

Several Years ago GO and Bato formed GB Partnershp.  The partnership agreement states that each partner is to receive a salary of P10,000 per month and 5% interest on beginning-of-the-year capital balances; any remainder would be divided between Go and Bato in the ratio 2:3, respectively.  The unadjusted trial balance of GB Partnership as of December 31, 2020, appears as follows:                     Debits                                                           Credits Cash                          P500,000           Accounts Payable  350,000 Accounts Receivable   300,000           Notes Payable       200,000 Inventory, 1/1/2020    400,000            Go, Capital            750,000 Furnitires & Fixt (net)  150,000            Bato, Capital         620,000 Building, net                300,000            Sales                     800,000 Go, drawing                 100,000 Bato, drawing               120,000 Purchases                     600,000 Operating Expenses      250,000…

Tom and Faith are in a partnership sharing profits and losses in the ratio of 3/5 for Tom and 2/5 for Faith. The partnership deed provides for interest on capital at the rate of 5% and interest on drawings at 10% per annum. The partners are entitled to annual salaries of $ 2,000 and $1,000 for Tom and Faith respectively.   The following balances were extracted from the books of the partnership as at 30th, September 2020:   $ Capital accounts:   Tom         14,000 Faith 10,000 Current accounts:   Tom 4,000 Faith 2,500 Drawings:   Tom 3,800 Faith 2,200 During the year the partners had made a net profit of $15,000 for the business. Required: Prepare the partners’ current accounts as at 30th September 2020.