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By what amount should Chandelure capital account change

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Question - Chandelure, Lampent, and Litwik are partners with average capital balances during 2021 of P120,000, P60,000, and P40,000, respectively. Partners receive 10% interest on their average capital balances. After deducting salaries of P30,000 to Chandelure and P20,000 to Litwik, the residual profit and loss is divided equally. In 2021, the partnership sustained a P33,000 loss before interest and salaries to partners. By what amount should Chandelure's capital account change?

A. 7,000 increase

B. 42,000 increase

C. 35,000 decrease

D. 11,000 decrease

Reference no: EM132909996

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