Partners Ben, Noreen, Lani, and Edwin initially invested P45,000; P60,000; P65,000 and P85,000 each to form a partnership on July 1, 2020. They divide profit and losses based on the following: a) Annual Salaries of P15,000, P20,000 and P20,000 to Ben, Noreen, and Lani: b) 10% annual interest on original capital to Lani: c) 20% bonus to Edwin before salaries, interest, and bonus: d) The balance is to be divided into a 4:3:2:1 ratio to Ben, Noreen, Lani, and Edwin each, respectively. If on December 31, 2021 the capital balances of Noreen and Lani total P250,000, how much would have been the total profits given to Edwin at this time (from 2020 to 2021)? Your answer

Nikki, EJ and Justin decided to form a partnership contributing the following from each of their existing businesses: Nikki 50,000 100,000 2,500 100,000 EJ 75,000 50,000 5,000 Cash Receivables Allowance for Bad Debts Inventories Property. Plant and Equipment Goodwill Liabilities Justin 55,000 60,000 3,000 55,000 350.000 50,000 200,000 45,000 The partners agree on the following: a) The receivables of each partner is to have a 95% net realizable value. b) Inventories of Nikki costing P10,000 are deemed to be worthless. c) The property, plant and equipment has a current value of P400,000 and is subject to a P200,000 mortgage (the liability of El). The partners agree to shoulders of the loan plus accrued interest (based on the original loan balance) at 10% for one year d) Liabilities of Justin are understated by P5,000. e) The only goodwill recognized is the goodwill attributable to Ejwhich is equivalent to 5% of his adjusted capital The partners are to share in the ratio of 4-5:1 to Nikki, Ej and Justin respectively. a) The partners are to invest or withdraw additional cash to make their capital balances equal to their profit and loss ratios with EJ's capital to be used as the basis. Determine the amount of additional cash investment or withdrawal of Nikki.