Problem #16 Distribution of Prots or Losses Based on Partners' Agreement A summary of changes in the capital accounts of the Nami, Ussop and Nico Robin partnership for 2014, before closing, follows: Nami Ussop Nico Robin Total Balance, Jan. 1, 2014 P 80,000 P 80,000 P 90,000 P250,000 Investment, Apr. 1 20,000 20,000 Withdrawal, May 1 (15,000) (15,000) Withdrawal, July 1 (10,000) (10,000) Withdrawal, Sept. 11 (30,000) (30,000) P 90,000 P 65,000 P 60,000 P215,000 Required: Determine the allocation of the 2014 prot to the partnership under each of the following independent assumptions: 1. Prot is P48,000 and prot in divided on the basis of average capital balances. 2. Prot is P50,000. Nami receives a bonus of 10%of prot for managing the business, and the balance to be divided on the basis of beginning capital balances. 3. Loss is P35,000, each partner is allowed 10% interest on beginning capital balances and the balance to be divided equally