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What is the net income or loss of abc

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On January 1, 2022, Ana, Bea and Chin formed ABC Partnership with total agreed capitalization of P1,000,000. The capital interest ratio of ABC Partnership is 5:1:4 while the profit and loss ratio is 3:2:5, respectively for Ana, Bea and Chin. During 2022, Ana and Bea made additional investment of P200,000 and P500,000, respectively. At the end of 2021, Bea and Chin made drawings of P300,000 and P100,000, respectively. On December 31, 2022, the capital balances of Bea is reported at P200,000. 1. What is the net income or loss of ABC Partnership for the year ended December 31, 2022?

Reference no: EM133234045

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