a. An allowance for doubtful accounts of 2% of accounts receivable is to be established. b. The merchandise inventory is to be valued at P202,000 c. Prepaid expenses of P6,500 and accrued liabilities of P4,000 are to be established Tonyo is to invest sufficient funds in order to received a1/3 interest in the partnership. 4. 5. 6. How much is the adjusted capital of Pedro? . How much must Tonyo contribute? Puno, Quirino and Romero are partners in a lumber company. Their partnership agreement provides for the following profit and loss distributions: 0 Puno, Quirino and Romero are to receive salaries of P40,000, P36,000 and P13,650, respectively. Puno is to receive a bonus equal to 10% of profit before bonus. 0 Each partner is to receive 10% interest on the average capital balance 0 Withdrawals are considered to be reduction of capital for purposes of interest calculations. a Any remaining profits or losses are to be divided equally among the partners. Capital balance information for 2018 is as follows: mw- Beginning capital balance P10,000 P6,000 P40,000 Withdrawal, April 1, 2018 (1,000) - (2,000) Capital investment, July 1, 2018 2,000 4,000 15,000 Withdrawal, October, 1, 2018 (1,000) (2,000) - Assume Puno's share of the allocated profits is to be withdrawn. How much prot must the partnership earn to allow Puno to withdraw exactly P61,000 excluding previous withdrawals? Partners Adan and Eba have capital balances in a partnership of P400,000 and P600,000, respectively. They agree to share profits and losses as follows: Adan Eba As salaries P100,000 P120,000 As interest on capital at the beginning of the year 10% 10% Remaining profits or losses 50% 50%