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Problem 1-14 Greg, Harris and Ivan Partnership Greg Harris Ivan

Greg, Harris, and Ivan have a partnership. Greg contributed ₱200,000 initially and ₱41,666.67 on March 1. Harris contributed ₱300,000 initially and received ₱2,916.67 on August 1. Ivan contributed ₱250,000 initially, ₱6,666.67 on May 1, and ₱1,250 on October 1 and ₱416.67 on December 1. The document shows the capital contributions and withdrawals for each partner over the year and calculates their weighted average capital and interest earned at 8% rate.

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Genelle Soriano
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261 views1 page

Problem 1-14 Greg, Harris and Ivan Partnership Greg Harris Ivan

Greg, Harris, and Ivan have a partnership. Greg contributed ₱200,000 initially and ₱41,666.67 on March 1. Harris contributed ₱300,000 initially and received ₱2,916.67 on August 1. Ivan contributed ₱250,000 initially, ₱6,666.67 on May 1, and ₱1,250 on October 1 and ₱416.67 on December 1. The document shows the capital contributions and withdrawals for each partner over the year and calculates their weighted average capital and interest earned at 8% rate.

Uploaded by

Genelle Soriano
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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PROBLEM 1-14 GREG, HARRIS AND IVAN PARTNERSHIP

Greg Harris Ivan


₱
Jan. 1 ₱ 200,000.00 ₱ 300,000.00 250,000.00

Mar. 1 41,666.67 - -

Apr. 1 7,500.00 15,000.00 -


-
May 1 - - 6,666.67

Aug. 1 - 2,916.67 4,166.67 -


1,250.
Oct. 1 1,250.00 1,000.00 00
416.
Dec. 1 - - 67
Weighted Average ₱
Capital ₱ 247,500.00 ₱ 320,166.67 245,000.00
Interest Rate 8% 8% 8%
₱
Interest ₱ 19,800.00 ₱ 25,613.33 19,600.00

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