Kindly answered this with brief explanation?

1. The increase (decrease) in the capital accounts of Bong and Inday respectively, related to partnership operations, must be?

Bong, Ping and are partners with average capital balances during 2020 of P120,OOO, P60,OOO, and P40,OOO, respectively. Partners receive 10% interest on their average capital balances. After deducting salaries of P30,000 to Bong and P20,000 to Ping, the residual profit or loss is divided equally. In 2020 the partnership sustained a P33,000 loss before interest and salaries to partners.

2. How much should be allocated to Kardu? *

The partnership agreement of Ambo, Kardu and Oscar provides for the year-end allocation of net income in the following order:

a. Ambo is to receive 10% of net income up to PIOO,OOO and 20% over PIOO,OOO.

b. Kardu and Oscar each are to receive 5% of remaining income over P150,OOO.

c. The balance of income is to be allocated equally among the three partners.

The partnership's 2020 net income was P250,000 before any allocations to partners.

3. How much is the share (to the nearest peso) of Yvonne in the net income of the partnership?

Monica, Yvonne and Krisha are partners of MYK Accounting Firm with capital account balances at year-end of P210,000 and P150,OOO and P190,000 respectively, before distribution of profit or loss. They share profits and losses on a 4:2:4 ratio, after the following special terms:

1. Yvonne is to receive a bonus of 5% of net income before bonus

2. Interests of 12% shall be paid on that portion of partner's capital in excess of P200,OOO.

3. Monthly salaries of P7,500 and P9,000 shall be paid to partners Krisha & Yvonne respectively.

The net income for the year is P200,000. The partners agreed to follow the above provisions in that order of priority.

4. Assuming net income of P249,300 before salaries, interest and bonus, the share of John must be?

Joey and John formed a partnership in 2020 with initial investments of PIOO,OOO and P150,000 respectively and made these investments and capital withdrawals during the year:

JOEY JOHN

Investments Drawings Investments Drawings

March 1 P90,OOO P60,OOO

June 1 P30,OOO 30,000

August 1 60,000 6,000

December 1 15,000

The partnership's profit and loss agreement provides for annual salary of P90,000 to each partner. Joey is to receive a bonus of 10% on net income after salaries and bonus. The partners are also to receive interest of 8% on average annual capital balances affected by both investments and drawings. Any remaining profits are to be allocated equally among the partners.