The capital accounts of partners Abad, Belen and Castro are as follows Abad, Capital Apr. 1...

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The capital accounts of partners Abad, Belen and Castro are as follows Abad, Capital Apr. 1 200,000 Jan. 1 700,000 Bal. 500,000 Belen, Capital Aug. 1 300,000 Jan. 1 Jul. 1 Bal. Castro, Capital Jan. 1 Sept. 1 Bal. 400,000 200,000 300,000 100,000 100,000 200,000 Journalize the distribution of P800,000 net income for the year when: 1. Net income is divided on the basis of beginning capital. 2. Net income is divided on the basis of ending capital. 3. Net income is divided on the basis of average capital. The capital accounts of partners Abad, Belen and Castro are as follows Abad, Capital Apr. 1 200,000 Jan. 1 700,000 Bal. 500,000 Belen, Capital Aug. 1 300,000 Jan. 1 Jul. 1 Bal. Castro, Capital Jan. 1 Sept. 1 Bal. 400,000 200,000 300,000 100,000 100,000 200,000 Journalize the distribution of P800,000 net income for the year when: 1. Net income is divided on the basis of beginning capital. 2. Net income is divided on the basis of ending capital. 3. Net income is divided on the basis of average capital.

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1 Net Income divided on the basis of beginning capital as follows Abads Share Abads Beginning Capita... View the full answer