Exercise 3-9 (Division of Profit under Various Assumptions) The capital accounts of Bondoc and Barba at the end of the fiscal year 2014 are as follows: Barbie, Capital January 1 May 1 October 1 Balance Investment Withdrawal P210,000 VIE90,000 SEK P 60,000 Carla, Capital January 1 Balance October 1 Withdrawal P150,000 P30,000 The partnership profit for the year ended December 31, 2014 is P300,000. Instructions: Give the journal entries to record the transfer of profit to the capital accounts under each of the following assumptions: (Show the necessary computations after the journal entries as an explanation for each entry). 1. Profit is divided 60% to Carla and 40% to Barbie. 2. Profit is divided in the ratio of capital balances at the beginning of the period. 3. Profit is divided in the ratio of average capital. 4. Interest at 10% is allowed on average capital and the balance of profit is divided in the ratio of 40% and 60% for Barbie and Carla respectively. 5. Salaries of P60,000 and P48,000 are allowed to Carla and Barbie, respectively, and the balance of profit is divided in the ratio of capital balances at the end of the period. 6. Carla is allowed a bonus of 33 1/3% of profit after bonus, and the balance of the profit is divided in the ratio of the average capital