Q5 through Q7.

Bacalso and Tenajeros have respective partnership capital balances of P48,000 and P24,000 on January 1. Bacalso withdrew P6,000 on May 1 and P6,000 on July 1. Tenajeros invested an additional P12,000 on April 1 and withdrew P8,000 on October 1. The profit earned by the partnership for the year amounts to P12,540 and to be distributed to the partners according to the weighted average capital.

Q5. The average capital balances of Bacalso and Tenajeros for the year are:

a. Bacalso, P48,000; Tenajeros, P24,000

b. Bacalso, P42,000; Tenajeros, P26,000

c. Bacalso, P41,000; Tenajeros, P31,000

d. Bacalso, P36,000; Tenajeros, P28,000

1

Q6. How much would be the share of Bacalso on the Profit? a. 12,540

b. 7,141 c. 5,399 d. 6,270

Q7. How much would be the share of Tenajeros on the Profit?

a. 12,540

b. 7,141

c. 5,399

d. 6,270