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What amount should h capital account change

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Problem 1: H, G and M are partners with average capital balances during the year 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 H and P20,000 to G, the residual profit or loss is divided equally. The partnership sustained a P33,000 loss before the interest and salaries to partners. By what amount should H's capital account change?

a. P42,000 increase
b. P35,000 decrease
c. P11,000 decrease
d. P7,000 increase

Reference no: EM132713293

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