EX-1. The partnership contract for the A and B Partnership provided that Jordan is to receive an annual salary of P 120,000, B is to receive an annual salary of P 80,000, and the remaining profit or loss is to be divided equally between the two partners. Net income of the A and B Partnership for the year ended December 31, 2020 was P 180,000. The closing entry for net income on December 31, 2020 is a debit to Income Summary for P 180,000 and credits to A Capital and B Capital, respectively of:

EX-2. F, G, and H are partners with average capital balances during 2020 of P 120,000, and P 60,000, and P 40,000, respectively. Partners receive 10 percent interest on their average capital balances. After deducting salaries of P 30,000 to F and P 20,000 to H, the remaining profit or loss is divided equally. In 2020, the partnership sustained a P 33,000 loss before interest and salaries to partners. By what amount should F's capital account change?

EX-3. J and P are partners who share profits and losses in the ratio of 6:4 respectively. J's salary is P 100,000 and P is P 50,000. The partners also are paid interest on their average capital balances. In 2020, J received P 50,000 of interest and P, P 20,000. The profit and loss allocation is determined after deductions for the salary and interest payments. If P's total share of partnership income was P 200,000 in 2020, what was the total partnership income?

EX-4. P and R share profits after the provision of annual salary allowances of P 14,400 and P 13,200, respectively in the ratio of 3:2. However, if partnership's net income is insufficient to provide for said allowances in full amount, the net income shall be divided equally between the partners. In 2020, the following errors were discovered: Depreciation for 2020 is understated by P 2,100, and the inventory on December 31, 2020 is overstated by P 11,400. The partnership net income for 2020 was reported to be P 19,500. The capital accounts of the partners should be increased (decreased) by: