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3 Points Nathan owns the Kavanah Bakeshop. On January 2, 2022, Nathan invited his friend Dwayne to be his business partner, who invested P250,000 for
3 Points Nathan owns the Kavanah Bakeshop. On January 2, 2022, Nathan invited his friend Dwayne to be his business partner, who invested P250,000 for a 50% equity in the partnership. The two agreed to share profit or losses as follows: 1.12% interest on average capital 2. Monthly salary of P12000 and P10,000 to Nathan and Dwayne, respectively. 3. Bonus to Nathan of 10% after bonus and salary, and 4. Remaining profit or loss to be divided equally The partners agreed further to double their investments before the end of the year. Dwayne made an additional investment on July 1 to double his capital while Nathan gave his counterpart in two equal installments on March 1 and July 31. During 2022, Nathan and Dwayne withdrew 80% of their salary allowances At the end of 2022, the Income Summary account showed a credit balance of P924,000 In the Statement of Financial Position as of December 31, 2022, the Partners' Equity would show Select the correct response(s) Nathan, Capital P890,675 Dwayne, Capital P918,125 Dwayne, Capital P822,125 Total Partners' Equity P1,000,000 Nathan, Capital P1,005,875 Dwayne, Capital PB05,925 Total Partners' Equity P1,712,800 Nathan, Capital P906, 875 Nathan, Capital P1,000,000 Total Partners' Equity P1,924,000
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