In the year 2020, the partnership of Janrex and John Benet realized a net profit of P240,000.00. The capital accounts of the partners show the following postings: Janrex, Capital John Benet, Capital Debit Jan. 1, 2020 Credit P 120,000.00 Debit Credit P 80,000.00 May 1, 2020 P 20,000.00 P 10,000.00 July 1, 2020 20,000.00 Aug. 1, 2020 10,000.00 Oct. 1, 2020 10,000.00 5,000.00 Question No. 7. If the profits are to be divided based on the average capital, the share of Janrex and John Benet, respectively are: a. P129,600.00; P110,400.00 b. P144,000.00; P96,000.00 c. P136,800.00; P103,200.00 d, answer not given Question No. 8. If 20% interest based on the capital at the end of the year is allowed and given and the balance of the P240,000.00 profit is divided equally, the total share of Janrex and John Benet, respectively are: a. P121,500.00; P118,500.00 b. P124,000.00; P116,000.00 c. P123,000.00; P117,000.00 d. P122,625.00; P117,375.00 On January 1, 2021 Czarina and Nerisa Partnership have capital balances of P20,000.00 and P16,000.00, respectively. On Czarina invests an additional P4,000.00 and Nerisa withdraws P1,600.00. Profits and losses are divided as follows: Neri managing partner and as such shall receive P16,000.0 salary and Czarina, P7,200.00; both partners shall receive intere on their beginning capital balances to offset whatever difference in capital investments they have and any remainder si divided equally. Question No. 9. Income of the Czarina and Nerisa Partnership for the year 2021 is P9,600.00. Czarina's share in the net income is: a. P9,000.00 b. P4,800.00 c. P880.00 d. P600.00 2/3 Irish, an active partner in the Irish and Ivy Partnership receives an annual bonus of 25% of the partnership income after deducting the bonus. For the year ended, December 31, 2019, the partnership income before the bonus amounted to P240,000.00. Question No. 10. The bonus of Irish for the year 2019 is: a. P45,000.00 b. P80,000.00 c. P48,000.00 d. P60,000.00