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How much will Dadulla contribute to the partnership

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Question - Dadulla, Aquino and Chua form a partnership on January 1, 2019 investing P15,250, P10,000 and P10,000 respectively; profits are to be shared in the ratio of 2:1:1 respectively. On March 1, Dadulla withdraws P7,500. Business is unsatisfactory and partners decided to dissolve the partnership. It is agreed that 5% annually is to be charged to partners on withdrawals that decrease capitals below the original investments. Partnership assets realize P5,000 and the accountant distributes this cash to the proper parties on November 1, 2019. All parties are solvent and proper settlement is made among partners the same day. How much will Dadulla contribute to the partnership for the final settlement?

Reference no: EM132943670

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