f Facebook X M Preliminary Quiz - AST - jamendo x Preliminary Quiz - AST X A docs.google.com/forms/d/e/1FAlpQLSewbXrJL23aP-BlubwiAlUcFu7Ya919/WDjnBXUv8x3_dxaaQ/viewform?vc=08lc=08w=18fir=0 O B O c O D Sonny and Colme are CPAs who have been operating their own separate practices as sole proprietors. They decided to combine the two firms as a partnership on January 5, 2021. The following assets were contributed by each: Sonny Colme Cash 100,000.00 100,000.00 Accounts receivables 225,000.00 190,000.00 Furniture and equipment 35,000.00 38,000.00 Computer equipment 46,000.00 The partners agreed to split profits on the basis of gross cash collections from billing generated from clients. During 2021, Sonny's clients paid the firm a total of P1,500,000.00 and Colme's clients paid P1,625,000.00. Expenses for the year were P1,080,000.00 of which P480,000.00 were attributable to Adam and P600,000.00 to Colme. During 2021 Colme withdrew P750,000.00 cash for personal needs and contributed additional computer valued at P22,000.00 What is the capital balance of Colme at December 31, 2021? a. 576,000.00 C. 709,400.00 b. 839,400.00 1. 889,400.00 O A O B On-Screen Keyboard X O C 2#3 ^6 7 8 9 0 --+ + = 2 Home PgUp Nav Tab [ ]\\ Del End PgDn Mv Up O D Caps a Enter Insert Pause My Dn Shift m Shift PrtScn ScrLk Dock Fn Ctr Alt Alt Ctr 8 Options Help Fade ! -.. . 5:10 PM Type here to search O Sunset A 10/21/2022