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On December 31, 2018, the Statement of Financial Position of ABC Partnership provided the following data with profit or loss ratio of 5:1:4: Current Assets

On December 31, 2018, the Statement of Financial Position of ABC Partnership provided the

following data with profit or loss ratio of 5:1:4:

Current Assets P 1,500,000 Total Liabilities P 500,000

Noncurrent Assets 2,000,000 A, Capital 1,100,000

B, Capital 1,200,000

C, Capital 700,000

On January 1, 2019, D is admitted to the partnership by investing P500,000 to the partnership for

10% capital interest. The total agreed capitalization of the new partnership is P3,000,000.

1.

What is the share of A in the asset impairment?

2.

What is the amount of bonus given by D to the existing partners?

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