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Please help me answer the problem :-) FRANCIS, CHINO and APRIL formed a partnership on January 1, 2030, with each partner contributing P600,000 cash. The

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FRANCIS, CHINO and APRIL formed a partnership on January 1, 2030, with each partner contributing P600,000 cash. The partnership agreement provided that APRIL receives a salary of P30,000 per month for managing the partnership business. APRIL has never withdrawn any money from the parmership. FRANCIS withdrew P120,000 in each of the year 2030 and 2031, and CHIND invested in additional P240,000 in 2030 and withdrew P240,000 during 2031. Due to an oversight, the partnership has not maintained formal accounting records, but the following data as a December 31, 2031 is available. Cash P855,000 Account payable P570,000 Accounts receivable 600,00 Notes payable 315,000 Merchandise inventory 1,200,000 Computer equipment, net 1,110,000 Prepaid expenses 120,000 Total P3,385,000 Total P385,000 Additional data: 1. The partners agree that income for 2031 was about half of the total income for the first two years of operations. 2. The partnership agreement provides that profits, after allowance for APRIL's salary, are to be divided each year on the basis of the beginning of the year capital balances. For the year ended December 31, 2031, the capital balances of the partners are: FRANCIS CHINE) APRIL a. P600,000 P960,000 P1,080,000 b. P501010 P850909 P1,587,273 c. P480,000 P720,000 P1,080,000 d. P561318 P720,000 P1,587,273

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