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WILL UPVOTE!! PLEASE ANSWER THE FOLLOWING ASAP! 1. Partners X, Y, and Z formed a partnership on June 1, 2021. X is an industrial partner

WILL UPVOTE!! PLEASE ANSWER THE FOLLOWING ASAP!


1. Partners X, Y, and Z formed a partnership on June 1, 2021.  X is an industrial partner while Y and Z are capitalist partners with cash contributions of P 80,000 and P120,000, respectively.  They share profits in the ratio of 2:5:3 to X, Y, and Z, respectively.  If operations for 2021 resulted to a loss of P 140,000, how much is the share of Z?  No need to place a parenthesis for your answer.

 

2. On January 1, 2021, Partners X and Y have capital balances of P 50,000 and P 100,000.  Partner X made monthly withdrawals of P 1,000 while Y made monthly withdrawals of P 1,500. Partners profit and loss agreement were as follows: 1.)Annual salaries of P60,000 for X and P 40,000 for Y;  2.)  10% interest on beginning capital;  3.)Remainder are shared equally.  If the partnership capital at the end of the year is P225,000, the partnership operations for the year resulted to ____________.  Place a parenthesis ( ) if your answer is net loss.
a. Capital balance of X at the end of the year is
b. Capital balance of Y at the end of the year is:

 

3. Y, a partner in the XYZ Partnership, has a 30% participation in partnership profits and losses.  Y's capital account had a net decrease of P 120,000 during the calendar year 2021.  During 2021, Y withdrew P 260,000 (charged against his capital account) and contributed property valued at P 50,000 to the partnership.  What was the profit of XYZ Partnership?
a. How much is the profit share of Y?

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