Reference no: EM132532019
Question - On January 1, 2021, A, B and C formed ABC Partnership with total agreed capitalization of P1,000,000. The capital interest ratio of the ABC Partnership is 5:1:4 while the profit or loss ratio is 3:2:5, respectively for A, B and C.
During 2021, A and B made additional investments of P200,000 and P500,000, respectively. At the end of 2021, B and C made drawings of P300,000 and P100,000, respectively. On December 31, 2021, the capital balance of B is reported at P200,000.
Required - What is the capital balance of C on December 31, 2021?
a. P150,000
b. P50,000
c. P200,000
d. P250,000
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