question archive Davis, Lebron and Kuzma are partners with average capital balances during 2020 of P360,000, P180,000 and P120,000, respectively
Davis, Lebron and Kuzma are partners with average capital balances during 2020 of P360,000, P180,000 and P120,000, respectively
Subject:AccountingPrice: Bought3
Davis, Lebron and Kuzma are partners with average capital balances during 2020 of P360,000, P180,000 and P120,000, respectively. Partners receive on their average capital balances. After deducting salaries of P90,000 to Davis and P60,000 to Kuzma, the residual Profit or Loss is divided
equally. In 2020, the partnership sustained a P99,000 LOSS before interest and salaries to partners. By what amount should Davis' capital account change?
a. P21,000 increase b. P33,000 decrease c. P105,000 decrease
