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What will be done to the capital of X and in what amount

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Question - The net loss of a XYZ partnership for the year is P100,000. Partner X is to be given a salary of 5,000 per month. The capital balances of X, Y and Z are P 150,000, P 160,000, and P 140,000, respectively. Interest in the capital balance will be given at a rate of 15%. Bonus of 10% after salaries and interest is given to partner Z. Remaining profit is to be distributed equally to the partners. In the process of journalizing the distribution of the loss, what will be done to the capital of X and in what amount?

Reference no: EM133107937

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