43. On January 1, 2020, Nina and Ricci have capital balances of P 50,000 and P 100,000. Partner Nina made monthly withdrawals of P 1,000 while Ricci made monthly withdrawals of P 1,500. Partners profit and loss agreement were as follows: 1. Annual salaries of P 60,000 for Nina and P 40,000 for Ricci 2. 10% interest on beginning capital 3. Remainder are shared equally If the partnership capital at the end of the year is P225,000, the partnership operations for the year resulted to* m (2 points) Net income of P 115.000 Net income of P 105,000 Net income of P 255.000 Net loss of P 10,000 41. On October 20, 2020, CC admits DD for an interest in his business. On this date, CC's capital account shows a balance of P202,770. The following were agreed upon before the formation of the partnership 1. Prepaid expenses of P37,500 and accrued expenses of P5,500 are to be recognized. 2. 6% of the outstanding accounts receivable of P120,000 of CC is to be recognized as uncollectible. 3. DD is to be credited with a 30% interest in the partnership and is to invest cash aside from the P68,000 worth of merchandise. The amount of cash to be invested by DD and the total capital of the partnership are_ respectively: * (2 points) P29,530 and P325,100 P55,300 and P221,200 P82,950 and P275,100 P36,700 and P275,100 39. Shun and Thea decided to form a partnership on May 1, 2020. Assets contributed by the partners are: Shun Book value Fair value 375,000 375,000 Cash 95,000 125,000 Merchandise inventory 350,000 322,500 Furnitures and fixtures Thea Book value Fair value 875,000 875,000 Cash 870,500 925,000 Furnitures and fixtures 2,850,000 2,876,500 Transportation equipment The transportation equipment is subject to a mortgage loan of P375,000 which is to be assumed by the partnership. The partnership agreement provides that Shun and Thea share profits and losses of 30% and 70% respectively. Assuming that the partners agreed to bring their respective capital in proportion to their profit and loss ratio, using Thea capital as a base. How much additional cash is to be withdrawn or invested by Shun? * (2 points) P1030,000 P6,145,000 P1031,000 P1843,500