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Distribute the loss to the partners

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Reference no: EM132780436

Question - Given

Ending Capital balances of the partners:

Bernal: 516 666

Jaya: 608 333

Vidal: 733 333

Ratio of the Average capital balances of the partners:

Bernal: 27.8

Jaya: 32.74

Vidal: 39.46

During the year, the partnership has a net loss of 300,000 the partners agreed that to provide salaries of 5000 per month to each partner, 4% interest on ending capital balances and bonus after bonus of 10% of profit to Jaya. The balance would be divided according to the ratio of average capital balance. Distribute the loss to the partners.

Reference no: EM132780436

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