Lemon and Peach had capital accounts in 2020 as follows:

Lemon, Capital Peach, Capital

(Debit) (Credit) (Debit) (Credit)

04/01        01/01       09/01         01/01       
5,000 38,000 3,000 15,000

07/31       10/01         06/01       

10,000 1,000 10,000
09/30         5,000 11/30          5,000

12/01         4,000

 Lemon and Peach receive a monthly salary of P2,000 and P1,000 respectively.

 Peach receives a 20% bonus based on income after salaries, interest but after bonus.

 Interest is 5% of their average capital balances.

 The remainder shall be allocated based on the ending capital balance if negative while it shall be
based on the average capital balance if positive.

Solve the following:

1. What is the average capital balance of Lemon?

2. What is the average capital balance of Peach?

3. If the partnership reports income of P100,000 in 2020 before salaries, interest, and bonus, what
is the share of Lemon if salaries and interest are treated as allocation of net income?

4. If the partnership reports income of P50,000 in 2020 before salaries, interest, and bonus, what
is the share of Peach if salaries and interest are treated as allocation of net income? 

5. If the partnership reports income of P30,000 in 2020 before salaries, interest, and bonus, what
is the share of Peach if salaries and interest are treated as allocation of net income?