Professional Documents
Culture Documents
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P10,000 and equipment with an agreed upon valuation of P20,000. On July 20x5,
20x5. During 20x5, DD withdrew P800 per month and BB, the managing partner,
withdrew P1,000 per month. These drawings were charged to salary expense. A
pre-closing trial balance taken at December 31, 20x5 is as follows: Debit Credit .
P137,000 P137,000 Compute for the share of DD and BB in the partnership net
income assuming monthly salary allowances P800 and P1,000 for DD and BB,
10,800; BB, P 13,200 b. DD, P 12,000; BB, P 12,000 d. DD, P 10,600; BB. P 13,400
Interest on Average Capital 2,800 3,600 6,400 Balance (Equally) (200) (200) (400)
Supplies……………………………………………… P17,000
10/12 = P2,800 Annual average capital: P280,000/12 = P23,333x 12% = P2,800 BB: