What is as ending capital balance

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Problem

Partners A and B agreed to share profits in the following order of distribution: Interest of 10% on weighted average capital Salaries of P60,000 to A and P40,000 to B Residual profit, equally Loss is shared by A and B 40:60. Details of the capital accounts of A and B is shown as follows: A B Debit Credit Debit Credit January 1 - P 240,000 - P 360,000 March 30 - 40,000 P 20,000 - April 30 - - - 18,000 July 1 P 20,000 - 21,000 - September 30 - 80,000 - 60,000 November 1 30,000 - - - December 30 - - 30,000 - The partnership made P180,000 net income. Get the instant assignment help. What is A's ending capital balance?

Reference no: EM133922686

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