On January 1, 2023, Kylie, Bamboo and Tank formed a partnership with original capital contribution ratio of 4:5:1 for total agreed capitalization of PS,000,000. The profit or loss ratio agreerment provides that profit shall be distributed in the ration of 3:2:5 while losses shall be distributed in the ratio of 6:1:3.

 

During 2023, the partnership reported net income of P2,000,000 with Kylie and Bain boo withdrawing PS00,000 and P300,000 respectively. During 2024, the partnership reported net loss of Pl,000,000 with Bamboo and Tank withdrav,ing P200,000 and P400,000 respectively.

1. What is the capital balance of Bamboo on December 31, 2024 

2. What is the capital balance of Kylie on December 31, 2023?

3. What is the capital balance of Tank on December 31, 2023? 

4. In 2024, how much is the profit share of Kylie assuming the profit in 2024 was P97,000?

5. In 2024, how much is the profit share of Bamboo assuming the profit in 2024 was P97,000?

6. What is the ending capital balance of Kylie assuming a profit of P35,000? 

7. What is the ending capital balance of Kylie assuming a profit of P97,000? 

8. What is the adjusted capital balance of Kylie before admission of Tank?

9. Assuming Tank is admitted by the purchase of each of the original partners' interest and paid the partners, what is the amount credited to the capital balance of Kylie after admission of Tank? 

10. Assuming Tank is admitted by the purchase of each of the original partners' interest and paid the partners, what is the amount credited to the capital balance of Bamboo after admission of Tank? 

11. Assuming Tank is admitted by investing the P108,000 to the partnership for a 20% interest, what is the amount credited to the capital balance of Bamboo after admission of Tank?

12. Assuming Tank is admitted by investing the P108,000 to the partnership for a 20% interest, what is the amount credited to the capital balance of Tank after admission of Tank?