How much would be the share of brando

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Reference no: EM132697553

RJ and Mike are partners. Their capital account during 2019 are shown below:

______________ Marlon Capital_____________

debit credit

March 1 20,000 Jan. 1 120,000

Nov. 1 25,000 May 1 20,000

Oct. 1 30,000

____________Brando Capital__________________

debit credit

Nov. 1 142,500 Jan 1 130,000

July 1 187,500

The partnership earned profit of P360,000.

Problem a. If the profit is to be distributed using the opening capital ratio, how much would be the share of Brando?

Problem b. Assume that the profit is to be divided using the closing capital ratio, what would be the share of Marlon?

Reference no: EM132697553

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