Reb, Roy and Ramil are partners with average capital balances during 2020 of P120,000, P60,000 and P40,000, respectively

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answerhappygod
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Reb, Roy and Ramil are partners with average capital balances during 2020 of P120,000, P60,000 and P40,000, respectively

Post by answerhappygod »

Reb, Roy and Ramil are partners with average capital balances
during 2020 of P120,000, P60,000 and P40,000, respectively. The
partners will receive 10% interest on their average capital
balances, salary allowance of P30,000 for Reb and P20,000 for Ramil
and any residual profit is to be divided equally. In 2020,
partnership had a net loss of P33,000. By what amount would Reb
capital account change?
P7,000 increase
P42,000 increase
P11,000 decrease
P35,000 decrease
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