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ABC partnership posted a net income before tax of P1,200,000. The partners agreed on the
following:
Additional information:
a. Jan 1, 2019 capital balances of the three partners are as follows: A – P200,000; B –
P300,000; C-P450,000
b. On February 15, 2019, A made an additional investment of P40,000. Likewise on the same
date, B made a temporary withdrawal of P30,000.
d. On Sept 30, 2019, A, made a temporary withdrawal of P20,000, and on the same date, B
partially return amount of P10,000 from his temporary withdrawal on Feb 15. and according
to him, he will not be able to settle the remaining balance within the year